{"id":667589,"date":"2026-09-12T23:50:00","date_gmt":"2026-09-12T23:50:00","guid":{"rendered":"https:\/\/buglecall.org\/?p=667589"},"modified":"2026-09-12T23:50:00","modified_gmt":"2026-09-12T23:50:00","slug":"chinas-70-ev-target-deals-another-blow-to-oil-demand","status":"publish","type":"post","link":"https:\/\/buglecall.org\/?p=667589","title":{"rendered":"China’s 70% EV Target Deals Another Blow To Oil Demand"},"content":{"rendered":"

China’s 70% EV Target Deals Another Blow To Oil Demand<\/span><\/p>\n

\n

Authored by Tsvetana Paraskova via OilPrice.com<\/a>,<\/em><\/p>\n

China aims to have electric and hybrid vehicles account for as much as 70% of all passenger car sales by 2030<\/strong>, in a massive transport shift set to further dent oil demand for road fuels.<\/p>\n

\"\"<\/a><\/p>\n

As of the end of last year, the share of the so-called new energy vehicles was 54% of all passenger vehicle sales.<\/p>\n

In the new five-year<\/a> plan for the automotive industry compiled by nearly a dozen Chinese government agencies, China also targets to have 40% of new commercial vehicle sales be electric by 2030.<\/p>\n

The 70% target by 2030 could even be achieved earlier than planned<\/strong>, analysts say, as this year’s oil and fuel price shock is accelerating the shift to electric vehicles.<\/p>\n

EVs and hybrids accounted for 65% of China’s total passenger car sales in August, according to data by the local Passenger Car Association (PCA) cited by Bloomberg.<\/p>\n

The ambitious EV targets are expected to continue eroding road fuel demand in China, which has been falling for the second year in a row<\/strong>. This year, the decline has been steeper amid the energy price shock following the start of the war in Iran.<\/p>\n

Chinese state refiners expect continued declines and prepare for the future of plateauing and falling road fuel demand.<\/p>\n

For example, China’s Sinopec, the world’s top refiner by capacity, expects Chinese oil demand to drop<\/a> by 8.9% in 2026 from a year earlier amid demand destruction from higher oil prices and the acceleration of electric vehicle adoption. Gasoline demand is set for an 8.7% decline, while diesel consumption is expected to crash by 11.4%, Sinopec Economics & Development Research Institute says.<\/p>\n

The high oil prices destroyed some demand and sped up the adoption of EVs<\/strong>, which has been growing anyway in recent years, suppressing total oil demand even without blocked crude supplies in the Middle East.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nSat, 09\/12\/2026 – 19:50<\/span><\/p>","protected":false},"excerpt":{"rendered":"

China’s 70% EV Target Deals Another Blow To Oil Demand Authored by Tsvetana Paraskova via OilPrice.com, China aims to have electric and hybrid vehicles account for as much as 70% of all passenger car sales by 2030, in a massive transport shift set to further dent oil demand for road fuels. As of the end… Continue reading China’s 70% EV Target Deals Another Blow To Oil Demand<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":667590,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[17,22,13],"tags":[],"class_list":["post-667589","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-border-security","category-immigration","category-immigration-reform","entry"],"_links":{"self":[{"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/posts\/667589","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=667589"}],"version-history":[{"count":0,"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/posts\/667589\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/media\/667590"}],"wp:attachment":[{"href":"https:\/\/buglecall.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=667589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=667589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=667589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}