• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 20 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 16 mins How Far Have We Really Gotten With Alternative Energy
  • 2 hours If hydrogen is the answer, you're asking the wrong question
  • 3 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 5 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 15 hours Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 4 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
Ross McCracken

Ross McCracken

Ross is an energy analyst, writer and consultant who was previously the Managing Editor of Platts Energy Economist

More Info

LNG: A Growing Factor In Oil Demand Destruction

The global population of plug-in electric vehicles (PHEVs) is expected to reach 8.5 million by the end of 2019, according to EV Volumes, with an addition of 3.1 million passenger and light commercial vehicles (LCVs) this year, an increase of 57%.

This is a slower pace of growth than the 64% seen in 2017, reflecting an overall weaker Chinese car market, where sales of passenger cars have declined for 10 months in a row, although PHEVs continue to outperform. PHEVs made up 4.3% of all new passenger car and LCV sales in China last year and the China Passenger Car Association forecasts sales of 1.7 million units this year.

Heavy-duty EVs

EV Volumes put the number of medium and heavy-duty EVs (HDEVs) on the world’s roads in 2018 at 600,000, an increase of 120,000 from 2017. They expect the fleet to grow by 140,000 over 2019 to 740,000. Most of these vehicles are urban and suburban buses, with the remainder being mainly garbage trucks, road sweepers and other municipal vehicles.

In terms of displaced oil demand, HDEVs remain more significant than LDEVs because they are used much more intensively and replace vehicles with much lower fuel efficiency, but this looks set to change.

At end-2018, global EV oil demand displacement was about 272,000 b/d, of which about 60% could be attributed to HDEVs. The growth pattern for HDEVs shows a sharper decline than LDVs from a very short exponential period above 200% in 2016 to 55% in 2017, 25% in 2018 and…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News