look news india
Mumbai: The growing trend towards electric vehicles, especially in China, is likely to cause disruption in the global crude oil market. According to a report by the International Energy Agency (IEA), electric cars account for forty percent of new car sales in China, while globally the share is around twenty percent, which could create problems for crude oil and gas producers. Is.
In recent years, most of the increasing demand for crude oil has come from China and pollution has also increased.
In the International Energy Agency's World Energy Outlook, electric vehicles are expected to reduce daily demand for crude oil by 6 million barrels by 2030.
The report also said that based on current trends and policies, it can be said that by 2030 the share of electric vehicles in total global car sales will reach 50 percent.
Fifty percent of all electrified cars on roads globally are on Chinese roads. By 2030, 70 percent of new cars in China will be electric.
China is seeing huge growth in wind and solar energy capacity. However, along with the increase in clean energy production, the demand for electricity is also increasing, due to which coal-based power generation is also increasing. This means that pollution from coal will continue to increase. The demand for electricity is increasing faster than expected.