Goldman Sachs Says EV Surge May cut Oil Demand by Late 2027 - Energy News, Top Headlines, Commentaries, Features & Events

Goldman Sachs says surging EV adoption could shave 320,000 barrels a day off oil demand by late 2027

U.S. banking giant, Goldman Sachs, is projecting that rapid electric vehicle adoption, majorly due to higher fuel costs tied to disruptions near the Strait of Hormuz and the US-Iran war, could reduce global oil demand by up to 320,000 barrels per day by the end of 2027. In a research note published on Sunday June 21, the top investment bank mentioned two different scenarios that end up at the same conclusion. In the “Persistent Acceleration” sce…

Goldman Sachs Says EV Surge May cut Oil Demand by Late 2027 - Energy News, Top Headlines, Commentaries, Features & Events

By Reuters June 22 (Reuters) – Goldman Sachs said accelerating electric vehicle adoption following a Hormuz-related oil supply shock could ​trim global oil demand by up ‌to 0.32 million barrels per day by late 2027. Global EV car sales penetration increased 3.4 percentage points, ​the bank said in a note, to ​reach 26.1% last month — ...