Norway’s Oil Demand Hasn’t Crashed Despite Record EV Market Share

The fact that a record 90% share of all new car sales in Norway are electric has failed to make any impact on the country’s oil demand, indicating that hopes of rising EV uptake making an immediate dent in global oil demand are unrealistic.   Last year, 82.4% of all new passenger cars sold in Norway were fully electric, up from 79.3% in 2022, according to the Norwegian Public Roads Administration and the Norwegian Road Federation (OFV). This share has jumped to over 90% this year, but the impact on Norway’s oil demand…