China's EV Boom Is Quietly Undermining Oil's Biggest Chokepoint | HappeningNow.news

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China's EV Boom Is Quietly Undermining Oil's Biggest Chokepoint

The conventional view of the Hormuz crisis is that China has been caught in an energy trap.

Source OilPrice AI Summary Updated 1h 24m ago
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The conventional view of the Hormuz crisis is that China has been caught in an energy trap. It is the world’s largest crude importer, the Gulf remains one of its most important sources of supply, and an estimated 45–50% of Chinese crude imports normally transit the Strait of Hormuz. When traffic through the strait slows, Beijing cannot simply replace all th…

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