• 4 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 6 minutes UAE says four vessels subjected to 'sabotage' near Fujairah port
  • 9 minutes Why is Strait of Hormuz the World's Most Important Oil Artery
  • 13 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 11 hours California's Oil Industry Collapses Despite Shale Boom
  • 4 hours Balancing Act---Sanctions, Venezuela, Trade War and Demand
  • 11 mins Trump bogged down in Mideast quagmire. US spent $Trillions, lost Thousands of lives, and lost goodwill. FOR WHAT? US interests ? WHAT INTEREST ? To get Jared (Frisch School 2.8 GPA) a Mideast win with peace deal ? China greatest threat next 50 years.
  • 16 hours Knock-Knock: Aircraft Carrier Seen As Barometer Of Tensions With Iran
  • 15 hours UK Needs New Wind Turbines
  • 14 hours Will Canada drop Liberals, vote in Conservatives?
  • 10 hours Greenpeace Blocks BP HQ
  • 7 hours Shale to be profitable in 2019!!!
  • 6 hours DUG Rockies: Plenty Of Promise, Despite The Politics
  • 17 hours Australian Voters Reject 'Climate Change' Politicians
  • 20 hours IMO2020 To scrub or not to scrub
  • 17 hours Wonders of Shale- Gas,bringing investments and jobs to the US
  • 17 hours Apartheid Is Still There: Post-apartheid South Africa Is World’s Most Unequal Country
  • 10 hours Get First Access To The Oilprice App!
  • 16 hours methanol fuel cells
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

LNG

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…




Oilprice - The No. 1 Source for Oil & Energy News