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    OPEC sharply increases its forecast on electric cars

    Worldwide oil demand will drop by 8%© ALEXANDER KLEIN/AFP/Getty Images

    Baku. 17 July. REPORT.AZ/ OPEC has increased its forecast for the number of electric vehicles by about 4 times.

    Report informs citing the Hurriyet daily, OPEC has upgraded its forecast on number of electric vehicles from 46 mln to 266 mln by 2040.

    According to organization's forecast report, in 2040 electric cars will make 12% of the car market.

    Notably, two years ago, this forecast of OPEC was 2%.International research shows that up to 2040, electric cars will cause damage to world oil industry by 700 bln USD and world demand for oil will reduce by 8 mln bpd or 8% if today's demand is taken into account.

    In addition to the OPEC, the International Energy Agency (IEA) increased its forecast for the number of electric vehicles 2.5 times from 23 mln to 58 mln units by 2030.

    ExxonMobil has increased forecast for the number of electric vehicles by over 50% from 65 mln to 100 mln as of 2040.

    BP increases its new forecast on number of electric vehicles by 40% up to100 mln units for 2035, while Statoil forecasts specific weight of electric vehicles at 30% as of 2030.

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