China’s electric car investments could push oil prices even lower

“The reason I think it will be big is that the single biggest issue in China is pollution and a way to deal with it is to get electric cars. On top of that, India has a similar problem,” Jakobsen said.

Earlier this year, China and India unveiled plans to dramatically accelerate the adoption of EVs, which has prompted the IEA to take notice and promise a review of its long-term oil demand forecast.

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