EVs to cut oil demand by 5M bpd by 2030

The article demonstrates that the shift to electric vehicles significantly reduces the global demand for oil, with expectations of avoiding around 1.7 million barrels per day in 2025, rising to 5 million barrels daily by 2030. This transition is driven by increased sales of electric cars, which surpassed 20 million units in 2025, accounting for about a quarter of the global automotive market, with continued growth anticipated in the coming years. China plays a leading role, capturing 75% of electric vehicle production and 50% of its exports worldwide. Meanwhile, sales of electric trucks are expanding rapidly, further amplifying the impact of this shift on the oil market. Although this transition is significant, oil will not disappear entirely, as other sectors continue to rely on it. However, the decreasing demand from electric vehicles presents a new dynamic that will influence the future of the global energy market.

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