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Electric car push signals cap on endless rise in oil demand

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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