2024 global gasoline demand growth projected to halve due to rising EV demand in China and US.
Global gasoline demand growth is projected to halve by 2024 due to rising electric vehicle (EV) demand in China and the United States. Analysts predict demand will rise by 340,000 barrels per day (bpd) this year, the lowest growth since 2020, with Chinese demand expected to grow by only 10,000 bpd due to higher EV uptake. This shift is expected to put pressure on second-half refinery margins.
May 06, 2024
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