Projected oil demand growth curbed by new efficiency gains and electric vehicles, 2023
Barrels; Among new vehicles sold 2022-2023
A grouped bar chart showing the projected vehicle fuel demand growth curbed by efficiency gains and electric vehicles in 2023. Efficiency gains outstrip the contribution of EVs across almost all regions. Efficiency gains reduced fuel demand growth by an estimated 605k barrels of oil, versus 266k barrels of oil for EVs.