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China's EV Boom Threatens to Push Gasoline Demand Off a Cliff

29 Nov 2024 | Abstracted from Yahoo Finance

"...according to official statistics, China's sales of electric vehicles and hybrids have in fact reached a tipping point. They've accounted for more than half of retail passenger vehicle sales in the four months from July...The more rapid-than-expected uptake of EVs has shifted views among oil forecasters...CITIC Futures Co. sees Chinese gasoline consumption dropping by 4% to 5% a year through 2030."

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