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IEA reports growing impact of EV sales on global oil demand
All the tremors around markets on Friday and the weekend buried the appearance of a major global oil demand estimate of the early impact of the stuttering transition away from conventionally powered vehicles to EVs in their various forms. The International Energy Agency said that while the trimming of its demand estimates this year and next came from the vanishing impact of the demand boost (especially in China) from the ending of the pandemic lockdowns, there were signs that the uptake of EVs in China and Europe is starting to crimp demand as well. The IEA said on Friday part of the reason for its revising down its ... (full story)