Electric cars will impact oil demand less than vehicle efficiency: BP

Singapore

COULD growth in electric vehicles dent oil demand growth significantly? Not as much as gains in vehicle efficiency, according to BP chief economist Spencer Dale.

In a post on the company's website, Mr Dale said that the pace of gains in vehicle efficiency will have a greater impact in curbing oil demand growth than an increase in electric vehicles.

Passenger vehicles have become increasingly efficient in the past 20 years, progressing from …