Opec and big oil eyeing electric cars with trepidation, says Bloomberg

The Organization of the Petroleum Exporting Countries, Opec, and big oil companies around the world are looking at the growing popularity of electric cars anew, and revising their forecasts, according to a new report by Bloomberg New Energy Finance

The prospect of a massive trend that shows consumers turning away from petrol-driven vehicles would have huge implications for the oil industry.

Petrol-driven vehicles account for almost half of oil production demand, according to the US Department of Energy, while other sources say it’s more than 50 per cent.  Continue reading Opec and big oil eyeing electric cars with trepidation, says Bloomberg