IEA revises oil forecast in light of electric vehicle plans

By Staff reporter 18 May 2017

Plans by China and India to rapidly expand the number of electric vehicles on their roads over the coming decades have forced the International Energy Agency (IEA) to revise its long-term oil demand forecast.

China is aiming for one-fifth of all new cars to be using alternative fuels by 2025, while India is looking to electrify all new vehicles by 2032. The IEA said it would adjust its projections for crude oil demand in light of these figures for its World Energy Outlook 2017.

China and India...

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