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May 15, 2023 · The rapid growth of electric vehicles (EVs) will potentially disrupt the traditional oil market. The data presented indicates a significant decline in oil demand as more countries and consumers embrace EVs.
Dec 6, 2023 · Growing sales of electric vehicles in recent years have led forecasters to speed their projections for when global oil use will peak, as public subsidies and improved technology help...
In 2023, world’s daily oil consumption reached 101.7 mb/d,6 with more than 60% of it used by the transportation sector. Within road transportation, in 2022 passenger cars consumed 24.3 mb/d, followed by commercial trucks (16.2 mb/d), whereas two- and three-wheelers consumed 2 mb/d.
Although two and three wheelers account for the smallest portion of oil consumption in the transportation sector, rapid electrification in this segment has reduced the global oil demand in 2023 by 1 million barrels a day and the trend is expected to continue.
- Holger Frey
Dec 6, 2023 · Transportation is responsible for about 60% of world oil demand, with the United States alone accounting for around 10%, according to the IEA. That share should fall, as the IEA expects EVs...
Apr 27, 2023 · Global oil demand is set to decrease by 5 million barrels a day by 2030 as electric vehicles become a mass market, the International Energy Agency projected in its 2023 Global Electric Vehicle Outlook.
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In the United States, new electric car registrations totalled 1.4 million in 2023, increasing by more than 40% compared to 2022. While relative annual growth in 2023 was slower than in the preceding two years, demand for electric cars and absolute growth remained strong.
