Electric vehicles will displace 2.5 million b/d of oil demand by 2030 on the back of increasing sales of EVs in all major car markets amid support from government policy initiatives, a senior energy and transport analyst at the International Energy Agency said Wednesday. “In the report, we refer to 2.5 million b/d in the case of 2030,” said Pierpaolo Cazzola at an event organized by The Institute of Energy Economics, Japan, in Tokyo, where the IEA launched the Global EV Outlook 2018. In 2017, EVs displaced 0.4 million b/d of diesel and gasoil demand, a majority of which was attributed to two-and-three wheelers (73%), followed by buses (15%) and LDVs (12%), the IEA said in the Global EV Outlook 2018. In the IEA’s World Energy Outlook released in November — its central long-term outlook scenario — it had forecast that 280 million EVs will be on the roads […]