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China's Electric Vehicle Revolution: A Game Changer for Global Oil Demand
China’s rapid adoption of electric vehicles (EVs) is not just a national trend; it is shaking up the global oil industry in ways that few anticipated. With millions of electric vehicles now dominating the streets of major Chinese cities like Shanghai and Beijing, the country’s demand for oil has begun to decline. This transition is not only beneficial for environmental advocates, but it marks a significant shift in the global energy landscape.