Revolutionary Shift: IEA Forecasts Peak In World Oil Demand By 2028 As EVs Disrupt Global Energy Markets – 3 ETFs Tracking EV Stocks
Portfolio Pulse from Piero Cingari
The International Energy Agency (IEA) forecasts global oil demand to peak at 105.7 million barrels per day in 2028 due to the rise of electric vehicles (EVs). The demand for oil in transport fuels is expected to decline after 2026, with gasoline demand possibly peaking in 2023. EV sales are predicted to reach 155 million by 2028, displacing significant gasoline and diesel consumption.
June 14, 2023 | 4:30 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Fidelity Electric Vehicles and Future Transportation ETF (FDRV) may experience growth as the IEA forecasts a peak in global oil demand by 2028 due to the rise of electric vehicles.
The IEA's forecast of a peak in global oil demand by 2028 due to the rise of EVs indicates a growing market for electric vehicles and related technologies. As FDRV tracks EV and future transportation stocks, it is likely to benefit from this trend in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
iShares Self-Driving EV and Tech ETF (IDRV) may see growth as the IEA forecasts a peak in global oil demand by 2028 due to the rise of electric vehicles.
The IEA's forecast of a peak in global oil demand by 2028 due to the rise of EVs indicates a growing market for electric vehicles and related technologies. As IDRV tracks EV and self-driving tech stocks, it is likely to benefit from this trend in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) may benefit from the IEA's forecast of a peak in global oil demand by 2028 due to the rise of EVs.
The IEA's forecast of a peak in global oil demand by 2028 due to the rise of EVs indicates a growing market for electric vehicles and related technologies. As KARS tracks EV-related stocks, it is likely to benefit from this trend in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100