#oil

Ember estimates EVs in oil importers displaced $20bn of crude, March-August

Ember estimated on October 14, 2026 that electric car fleets in oil-importing countries displaced 200 million barrels of crude oil, worth $20 billion, from March to August 2026 during the Hormuz energy crisis, led by China at $14 billion and EU member states at $3.1 billion. The figure is a gross counterfactual estimate. Of the 56 countries in Ember's new EV sales tracker, 49 now have a higher battery electric share of sales than the US.