×
App Icon
The Standard e-Paper
Join Thousands Daily
★★★★ - on Play Store
Download App

Rising electric car demand rattles oil producers

photo:courtesy

The world’s biggest oil producers are starting to take electric vehicles seriously as a long-term threat.

OPEC quintupled its forecast for sales of plug-in EVs, and oil producers from Exxon Mobil Corp to BP Plc also revised up their outlooks in the past year, according to a study by Bloomberg New Energy Finance released on Friday.

Get Full Access for Ksh299/Week.
Fact‑first reporting that puts you at the heart of the newsroom. Subscribe for full access.
  • Unlimited access to all premium content
  • Uninterrupted ad-free browsing experience
  • Mobile-optimized reading experience
  • Weekly Newsletters
  • MPesa, Airtel Money and Cards accepted
Already a subscriber? Log in