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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 · 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...
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...
Apr 26, 2023 · The Global EV Outlook is an annual publication that identifies and discusses recent developments in electric mobility across the globe. It is developed with the support of the members of the Electric Vehicles Initiative (EVI). Combining historical analysis with projections to 2030, the report examines key areas of interest such as electric ...
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 consumers overcome the sometimes eye-popping sticker prices for battery-powered cars, according to industry experts.
According to the International Energy Agency, oil demand is expected to peak at 102 million barrels per day before 2030 rather than in mid 2030s, as estimated earlier. The transportation sector accounted for more than 60% of daily oil consumption in 2023, with passenger cars being the largest consumer, followed by commercial trucks.
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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.
