• Gustavo Bernal Torres

Zero-Emission Vehicles Progress Dashboard

EVs are shoving aside real volumes of oil.

  • Global oil demand in road transport reached roughly 43.7 million barrels per day in 2021, a slight increase since 2015. The adoption of electric vehicles and fuel cell vehicles avoided almost 1.5 millions of barrels of oil per day in 2021–about 3.3% of total demand. The displaced demand is roughly equivalent to one-fifth of Russia's total oil and oil products exports prior to the war.

  • Avoided oil consumption has more than doubled in the past six years, up from ~725,000 barrels of oil per day in 2015. Two-and three-wheeled EVs accounted for 67% of the oil demand avoided in 2021. This is due to their rapid adoption particularly in Asia. Buses, with 16% of total oil demand avoided, were next, followed by passenger vehicles, the fastest growing segment, accounting for 13%. Commercial vehicles accounted for just 4% of total oil demand avoided in 2021, largely from light commercial EVs.


Source: https://assets.bbhub.io/professional/sites/24/BloombergNEF-Zero-Emission-Vehicles-Progress-Dashboard-May-2022.pdf

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