China’s E-bus fleet cut oil demand: research

Compared with e-cars, the oil industry should be paying more attention to CHINA's electric bus fleet, which is denting the fuel demand, according to a recent research from Bloomberg NEF.

The report said that by the end of 2019, electric buses will wipe out about 270,000 barrels a day of diesel demand, most of which are in CHINA, the report said, noting that is more than triple of displacement caused by all passenger electric vehicles in the world.

Due to the big size and constant use, buses matter more in denting oil demand. The Bloomberg report said that every 1,000 electric buses on the road removed 500 barrels of diesel need each day.

Electrification of other transport modes is developing quickly, especially for two-wheelers and buses. In 2017, sales of electric buses were about 100,000 and sales of two-wheelers are estimated at 30 million; for both modes, the vast majority was in CHINA, according to another study Global EV Outlook 2018 released by International Energy Agency (IEA).

Source: International Energy Agency