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Experts unsure more electric vehicles will mean less oil demand in 2020s

Hurdles hinder switch to all-electric future while economic growth fuels crude consumption

Experts are divided on whether demand for oil will fall as fast as some forecast, despite increasing ownership of electric vehicles.   © Reuters

TOKYO -- As the global shift toward electric vehicles gathers momentum, some analysts are forecasting a faster-than-expected drop in demand for oil. Others, however, are not so sure.

France and Britain plan to ban sales of gasoline- and diesel-fueled cars by 2040, while China will require automakers to produce electric vehicles at a set ratio of their output. India has also kicked off its drive to electric, with major automakers starting to boost production of the vehicles.

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