Oil industry is finally starting to be affected by Norway’s rapid electric car adoption
That’s the latest record, but it also maintained double-digit market share since the latest rise in popularity of new electric vehicles over the past 4 years. The country is now starting to show signs of demand for gasoline and diesel slowing down as electric vehicles are taking over. The Norwegian government released its final 2017 figures for Sales of Petroleum Products and for the first time since at least 2014, Norway’s consumption of gasoline and diesel declined across the board. Some experts see this as the first sign of the growing EV fleet starting to have an impact on the oil industry. Norway, itself an important petroleum producer, has been investing heavily into reducing its dependence on its own products.
- Electrek -