Some of the world’s top oil forecasters are starting to map out scenarios for what is billed as one of the biggest threats to future demand: China and India eyeing a ban of petrol and diesel cars.
The two countries, which comprise more than a third of the world’s population, were long seen as the main drivers of growing oil consumption as more people take to the road in their fast-developing economies.
In the past month, however, Chinese officials have floated the possibility of phasing out the production and sale of fossil-fuelled vehicles, following the UK and France which have said they aim to ban diesel and petrol cars by 2040.
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