Electric Vehicles Hit to Oil Use Looks Slightly Milder, IEA Says
A gas pump and electric vehicle chargers at a service station in Minnesund, Norway.
Photographer: Naina Helén Jåma/BloombergThe impending hit to global oil demand from electric vehicles looks fractionally smaller than previously expected amid faltering American sales growth, according to the International Energy Agency.
Electric vehicles will displace about 5.4 million barrels a day of oil consumption globally by 2030, the Paris-based agency said in its annual outlook on the sector on Thursday, down from 6 million barrels a day in last year’s forecast.