Will EV’s Spark Decline In Oil Demand?

22 Sep 2017; Road transportation, (passenger vehicles and commercial vehicles) accounts for almost half (45%) of global oil demand.  The number of cars and trucks is generally expected to grow significantly in the coming years, especially in developing countries but also in OECD countries, although to a lesser degree.  As an example, OPEC expects the number of passenger cars to increase by 13% in OECD countries and by 71% in the rest of the world.  They forecast the number of commercial vehicles to increase by 25% in OECD countries and by 72% in the rest of the world.
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