EV Adoption Could Spell Trouble For Oil Exporters ...Middle East

OILPRICE - Economy
EV Adoption Could Spell Trouble For Oil Exporters
source : OILPRICE ( Middle East ) () 85
As of 2022, the global car count stood at approximately 1.474 billion, with electric vehicles (EVs) accounting for 1.76%. The rise of EVs is increasingly being seen as a potential challenge to the future of the oil industry. Asia has the world's largest concentration of cars, accounting for 36.8% (543 million vehicles) and consuming 35.7% of the daily 100.255 million barrels in 2022. Europe and North America follow, with Europe having a car population of 413 million and North America 358 million. Interestingly, while Europe boasts the second-largest…

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