CERAWEEK-BP says fuel efficiency affects oil demand more than electric cars | – #CERAWEEKBP #fuel #efficiency #affects #oil #demand #electric #cars

HOUSTON, March 7 (Reuters) – Fuel efficiency in new light vehicles is driving fuel demand more than growing sales of electric vehicles, BP Chief Executive Bernard Looney said at an energy conference on Tuesday.

1.4 in the world billion light car old cars in the park cancellation as far as possible, their location gasoline caught newer cars with higher mileage per unit.

“It’s locked in, and it affects oil demand more than electric cars,” Looney said at the CERAWeek energy conference. According to him, global car about 3 percent of its fleet is made up of electric vehicles.

According to him, the world car 2.2 of the park by 2040 billion is expected to reach the automobile, with most of the growth coming from China and India.

With more efficient cars on the road and more electric vehicles, fuel demand will increase from 5 million per day by 2040, Looney said. 10 may decrease to a million barrels. According to him, the current global light vehicle fleet consumes about 32 million barrels per day. This accounts for about one-third of global oil demand.

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Edited by Simon Webb

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2023-03-08 00:36:27
Source – reuters

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