DNV: Oil Demand Will Halve by 2050

In its latest decarbonization outlook, class society DNV predicts that oil usage will halve by 2050, with high-efficiency electric cars and trucks cutting deeply into demand for petroleum. 

Electrification of road transport is the primary driver, where electricity will likely beat out e-fuels and biofuels on cost for passenger vehicles. Even long-haul trucking will likely see more electrification over the next thirty years, according to DNV CEO Remi Eriksen. 

View entirety: The Maritime Executive