Barclays Report: Oil Demand Will Plummet by 2025 Due to Electric Cars

By Ray Prince Thanks to electric vehicle adoption, global oil demand could be reduced to 3.5 million barrels a day by 2025.
This projection was made in a recent Barclays analyst forecast research note. The 3.5 million barrel figure nearly matches Iran’s daily output of 3.8 million barrels a day, a doomsday threat to the third-largest producer of oil in the Organization of Petroleum Exporting Countries (OPEC), a group of 12 oil-exporting nations that set petroleum policy and ensure the stability of oil markets for its member countries.
Barclays also notes that if electric vehicle sales account for one-third of the market by 2040, this

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