Global oil demand under growing threat from electric cars, cleaner fuel
Updated : November 13, 2018 08:13 AM IST
Oil demand is not expected to peak before 2040, the Paris-based IEA said in its 2018 World Energy Outlook.
The IEA's central scenario is for demand to grow by around 1 million barrels per day (bpd) on average every year to 2025, before settling at a steadier rate of 250,000 bpd to 2040 when it will peak at 106.3 million bpd.
The IEA believes there will be around 300 million electric vehicles on the road by 2040, no change on its estimate a year ago.
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