EnterpriseThe Next Webabout 2 hours ago
China's electric taxis soften Hormuz oil shock
1 min read
China's crude oil imports fell 41.3% in June to 29.27 million tonnes, the lowest since October 2016. Half of China's 1.3 million taxis now run on batteries. Electric cars cover 75% of Didi's mileage. The shift reduced petrol demand by 150,000 barrels a day, offsetting roughly 3% of the Strait of Hormuz transit risk.
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