opec stresses demand on oil increases
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Despite electrical vehicle rise

OPEC stresses demand on oil increases

Arab Today, arab today

Arab Today, arab today OPEC stresses demand on oil increases

The use of oil in the road transportation sector will increase even as the sale of electric vehicles.
London - Arabs Today

The use of oil in the road transportation sector will increase even as the sale of electric vehicles is expected to rise, according to the annual long-term outlook from OPEC.

Global oil demand is expected to grow from 95.4 million barrels per day (bpd) in 2016 to 111 million bpd in 2040, according to the World Oil Outlook (WOO) report for 2017 released on Tuesday.

The road transportation sector is currently the largest contributor to global oil demand and this trend will continue, with OPEC expecting one out of every three new barrels between 2016 and 2040 to be absorbed by the road transportation sector, the report said.

Last year, the road transportation sector represented 45 percent of the total oil demand at around 42.8 million bpd. OPEC expects the sector to add another 5.4 million bpd of demand up to 2040, when it reaches 48.3 million bpd.

OPEC seems to be optimistic about the future of the internal combustion engine (ICE) even as many countries have announced plans to ban the sales of these cars by 2040 to promote more sales of electrical vehicles (EVs).

OPEC noted that competition for ICE cars will come from alternative fuel cars in general and not only from EVs. The list of alternative fuel cars include natural gas vehicles (NGVs), and fuel cell vehicles (FCVs). The total number of conventional passenger cars is forecast to further increase from around 1,040 million units in 2016 to more than 1,600 million units.

Alternative fuel vehicles including electric, natural gas and fuel cell vehicles will increasingly penetrate the global fleet.

Overall, the fleet share of all alternative fuel vehicles is estimated to rise from around 2 percent in 2016 to nearly 16 percent in 2040 with EVs rising from 0.1 percent in 2016 to around 11.6 percent in 2040, OPEC said. “In fact, electric vehicles contribute to the majority of the increase of all alternative fuel passenger cars,” it added.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

opec stresses demand on oil increases opec stresses demand on oil increases

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

opec stresses demand on oil increases opec stresses demand on oil increases

 



GMT 15:09 2016 Tuesday ,13 September

Sarah Jessica Parker will play singer in next movie

GMT 03:53 2017 Saturday ,29 April

Kardashian: Gunpoint heist meant to happen to me

GMT 13:15 2016 Tuesday ,16 August

Moss boosted Earth's oxygen 400m years ago

GMT 19:11 2016 Saturday ,24 December

Trial of 67 defendants in Barakat assassination

GMT 05:26 2017 Wednesday ,02 August

Saudi-Lebanese ties receive strong boost

GMT 16:16 2017 Wednesday ,04 January

Motorcycle gunmen kill Egypt policeman: security sources

GMT 12:21 2017 Wednesday ,18 January

High-flying India aim to clinch series in Cuttack

GMT 19:42 2017 Monday ,09 October

FIFA Club World Cup draw takes place in Abu Dhabi

GMT 15:04 2014 Monday ,17 March

Ballistics

GMT 20:24 2016 Tuesday ,27 December

Oman, UAE hold military talks

GMT 12:19 2012 Wednesday ,20 June

Reprimand recommended in Qur\'an burning

GMT 16:03 2016 Friday ,30 September

Prisoners seek mass breakout in Brazil jail

GMT 15:26 2014 Thursday ,18 December

UAE supports Tangier-Mediterranean Port in Morocco

GMT 10:38 2017 Monday ,23 January

Cyprus coffee shop provides common ground for peace

GMT 14:04 2016 Monday ,19 December

4-star Mertens fires Napoli to victory over Torino

GMT 11:43 2017 Thursday ,31 August

Al Fakhrani will participate in a new drama work

GMT 13:44 2017 Wednesday ,01 November

Sony revives robot pet dog

GMT 00:42 2017 Thursday ,11 May

WHSmith to open 7 new airport stores

GMT 11:27 2017 Tuesday ,03 January

James leads ailing Cavs
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday