{"id":44094,"date":"2024-12-11T05:15:00","date_gmt":"2024-12-11T10:15:00","guid":{"rendered":"https:\/\/latamobility.com\/?p=44094"},"modified":"2024-12-11T06:42:53","modified_gmt":"2024-12-11T11:42:53","slug":"electromobility-hinders-growth-in-the-oil-market","status":"publish","type":"post","link":"https:\/\/latamobility.com\/en\/electromobility-hinders-growth-in-the-oil-market\/","title":{"rendered":"Electromobility Hinders Growth in the Oil Market"},"content":{"rendered":"\n<p>The <strong>International Energy Agency (IEA)<\/strong> and the <strong>U.S. Energy Information Administration (EIA)<\/strong> reported that this year, <strong>China<\/strong> has slowed down the use of hydrocarbons. <\/p>\n\n\n\n<p>According to these organizations, the market for fossil fuels will only see an increase of 1.1%, which amounts to just about 180,000 barrels per day. <\/p>\n\n\n\n<p>This is being felt globally in <strong>the oil market<\/strong> because <strong>China<\/strong> has been responsible for its growth for over 50 years. <\/p>\n\n\n\n<p><strong>You may also read:<\/strong> <a href=\"https:\/\/latamobility.com\/en\/meet-the-first-electric-popemobile-that-pope-francis-will-debut\/\">Meet the first electric popemobile that Pope Francis will debut<\/a><\/p>\n\n\n\n<p>The analysis by the aforementioned agencies indicated that the slowdown is primarily due<strong> to reduced<\/strong> <strong>construction activity and an increase in<\/strong> <strong>electromobility<\/strong>.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"610\" src=\"https:\/\/latamobility.com\/wp-content\/uploads\/2024\/12\/Hidro-1-1024x610.jpg\" alt=\"\" class=\"wp-image-44100\" srcset=\"https:\/\/latamobility.com\/wp-content\/uploads\/2024\/12\/Hidro-1-1024x610.jpg 1024w, https:\/\/latamobility.com\/wp-content\/uploads\/2024\/12\/Hidro-1-300x179.jpg 300w, https:\/\/latamobility.com\/wp-content\/uploads\/2024\/12\/Hidro-1-768x458.jpg 768w, https:\/\/latamobility.com\/wp-content\/uploads\/2024\/12\/Hidro-1.jpg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-growth-in-electromobility\"><strong>Growth in Electromobility<\/strong><\/h2>\n\n\n\n<p><strong>Beijing<\/strong> leads in the development of clean energy, and when it comes to electric cars, sales have grown by 50%. This trend is expected to continue, leading to a decline in the use of fossil fuels as well as their prices.<\/p>\n\n\n\n<p>According to an analysis from <strong>Econoticias<\/strong>, the development of the<strong> Chinese electric mobility <\/strong>market will play a key role in the decline of the oil industry. <\/p>\n\n\n\n<p>Furthermore, the use of electricity as an energy source is expanding into other areas, and it appears that <strong>China<\/strong> will be a leader in this transition. <\/p>\n\n\n\n<p><strong>Electromobility is growing in many countries<\/strong>, and <strong>China<\/strong> is where the largest number of these vehicles\u2014both hybrids and electric\u2014are manufactured, both for domestic consumption and for export. According to recent data, they sold <strong>1.43 million units in October<\/strong>, a number that exceeds what was sold in <strong>Spain<\/strong> throughout all of 2023. <\/p>\n\n\n\n<p>With the growth in sales of these vehicles, the decline in oil demand is expected to be <strong>around 400,000 barrels per day just this year.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The International Energy Agency (IEA) and the U.S. Energy Information Administration (EIA) reported that this year, China has slowed down the use of hydrocarbons. According to these organizations, the market for fossil fuels will only see an increase of 1.1%, which amounts to just about 180,000 barrels per day. This is being felt globally in&#8230;<\/p>\n","protected":false},"author":10,"featured_media":44097,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[2054,14],"tags":[1564,1489],"class_list":["post-44094","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-electric-mobility","category-media-area","tag-electric-cars","tag-sustainability"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.7 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Electromobility Hinders Growth in the Oil Market - Latam Mobility<\/title>\n<meta name=\"description\" content=\"The International Energy Agency (IEA) and the U.S. Energy Information Administration (EIA) reported that this year, China has slowed down the use of\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/latamobility.com\/en\/electromobility-hinders-growth-in-the-oil-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Electromobility Hinders Growth in the Oil Market\" \/>\n<meta property=\"og:description\" content=\"The International Energy Agency (IEA) and the U.S. Energy Information Administration (EIA) reported that this year, China has slowed down the use of\" \/>\n<meta property=\"og:url\" content=\"https:\/\/latamobility.com\/en\/electromobility-hinders-growth-in-the-oil-market\/\" \/>\n<meta property=\"og:site_name\" content=\"Latam Mobility\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/latamobility\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-11T10:15:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-11T11:42:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/latamobility.com\/wp-content\/uploads\/2024\/12\/Hidro.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"715\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Antonio Vilela\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@LataMobility\" \/>\n<meta name=\"twitter:site\" content=\"@LataMobility\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Antonio Vilela\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/latamobility.com\\\/en\\\/electromobility-hinders-growth-in-the-oil-market\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/latamobility.com\\\/en\\\/electromobility-hinders-growth-in-the-oil-market\\\/\"},\"author\":{\"name\":\"Antonio Vilela\",\"@id\":\"https:\\\/\\\/latamobility.com\\\/#\\\/schema\\\/person\\\/fda092a2de1f87d347784282908bad1a\"},\"headline\":\"Electromobility Hinders Growth in the Oil Market\",\"datePublished\":\"2024-12-11T10:15:00+00:00\",\"dateModified\":\"2024-12-11T11:42:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/latamobility.com\\\/en\\\/electromobility-hinders-growth-in-the-oil-market\\\/\"},\"wordCount\":281,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/latamobility.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/latamobility.com\\\/en\\\/electromobility-hinders-growth-in-the-oil-market\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/latamobility.com\\\/wp-content\\\/uploads\\\/2024\\\/12\\\/Hidro.jpg\",\"keywords\":[\"electric cars\",\"Sustainability\"],\"articleSection\":[\"Electric Mobility\",\"Media area\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/latamobility.com\\\/en\\\/electromobility-hinders-growth-in-the-oil-market\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/latamobility.com\\\/en\\\/electromobility-hinders-growth-in-the-oil-market\\\/\",\"url\":\"https:\\\/\\\/latamobility.com\\\/en\\\/electromobility-hinders-growth-in-the-oil-market\\\/\",\"name\":\"Electromobility Hinders Growth in the Oil Market - 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