Global sales of electric cars declined by 3% last month as China moved to reduce subsidies and introduce a purchase tax on EVs, adding to consumer cooling after the U.S. federal government canceled EV tax incentives for buyers. EVs have been touted as one of the leading factors in oil demand decline over the long term, so any disruption of the presumably stable trend of EV sales growth could eventually lead to revisions in oil demand projections. Per data from Benchmark Mineral Intelligence cited by Reuters, global sales of electric cars stood…
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