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APPEC-Robust EV sales in China to affect gasoline demand - PetroChina

09/27/2022 | 09:38pm EST

SINGAPORE, Sept 28 (Reuters) - China's gasoline consumption growth will be affected by strong electric vehicle (EV) sales in the country, a senior Chinese oil executive said on Wednesday.

EV sales hit 6 million units in the first eight months this year, Wu Qiunan, chief economist at PetroChina International, told a forum at the 38th Asia Pacific Petroleum Conference (APPEC).

"That's a big replacement of gasoline consumption," he said, adding this may lower gasoline demand growth even as consumption is expected to recover when China eases COVID-19 restrictions. (Reporting by Aizhu Chen, Muyu Xu, Emily Chow and Florence Tan; Editing by Jacqueline Wong)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BRENT OIL 1.97% 78.99 Delayed Quote.2.29%
MSCI SINGAPORE (GDTR) -1.22% 5585.25 Real-time Quote.-9.50%
PETROCHINA COMPANY LIMITED -0.86% 3.46 Delayed Quote.0.58%
WTI 3.37% 75.102 Delayed Quote.-1.19%
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