EVs offset oil use equal to 70% of Iran’s 2025 exports: Report

The global electric vehicle (EV) fleet avoided the consumption of 1.7 million barrels per day of oil in 2025 — nearly matching the 2.4 million barrels per day exported by Iran through the Strait of Hormuz — according to new analysis by global energy think tank Ember.

This report presents key data on how conflict in the Middle East exposes vulnerabilities for economies dependent on imported fossil fuels, and how electrification technologies such as EVs, solar, wind, batteries and heat pumps can help mitigate these risks. “Oil is the Achilles’ heel of the global economy. In particular, Asia’s oil vulnerability has been exposed by the current crisis,” as per Daan Walter of Ember.

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Oil dependence remains widespread, with 79% of the global population living in oil-importing countries.

For every $10 per barrel increase in oil prices, the global net import bill rises by around $160 billion per year.

The Strait of Hormuz remains a critical chokepoint, carrying about a fifth of global oil exports. The wider Gulf region, within range of low-cost drones, provides 29% of global oil supply. Asia is particularly exposed, importing 40% of its oil through the strait.

Replacing imported oil used in transport with electric vehicles could reduce global fossil fuel imports by a third, saving around $600 billion per year, as per the analysis.

It shows that 39 countries now have an EV sales share above 10%, up from just four in 2019. Last year, Vietnam (38%) led ahead of the EU (26%), while Thailand (21%) and Indonesia (15%) outpaced the US (10%). India (4%) and Brazil (9%) also recorded higher shares than Japan (3%). China surpassed a 50% EV sales share for the first time in 2025.

“The cost savings are already significant. With oil at $80 per barrel, China saves over $28 billion annually in avoided oil imports through its current EV fleet alone; Europe saves about $8 billion, and India about $0.6 billion,” the report states

The International Energy Agency’s latest forecast sees oil demand peaking in 2029, with consumption not much higher than 2025 levels. The current crisis could bring that peak even sooner, it adds.