Briefing: Car owners turn to EVs as 30-40% of Gulf energy capacity is destroyed

France’s Finance Minister has reported that Iran's strikes have caused significant damage to Gulf refining capacity, estimated between 30% and 40%. This loss poses serious implications for global energy infrastructure.

The anticipated shortage of 11 million barrels per day will likely disrupt supply chains and affect pricing across various sectors reliant on oil.

As a response to these disruptions, car owners are increasingly turning to electric vehicles, indicating a potential shift in transportation infrastructure and energy consumption patterns.