The news coming out of China has analysts on alert.
Experts predict that Beijing will soon cease to be the largest driver of growth in oil demand.
This is the conclusion reached by analysts from the Reuters agency, who shared their observations in a new publication.
As the article emphasizes, there is already a steady trend towards a decrease in demand for black gold.
According to experts, this is due to the fact that more and more people are switching to electric vehicles.
The trend toward electric-powered transport will sooner or later lead to China ceasing to be the world's largest driver of oil.
At the same time, no other market can replace the niche that China currently occupies. The Celestial Empire accounts for about 41% of global oil consumption.
At the same time, already in 2023, China has reached a new record, which this time concerns electric vehicles. Every third vehicle produced in the country last year is electric.
