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Informative Article | Engineering Science | India | Volume 11 Issue 12, December 2022 | Popularity: 4.9 / 10

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Decoding Oil Demand: The Role of Vehicle Fleet Shifts in ICE and EV on Production Forecasting

Pankaj Dureja

Abstract: This article delves into the detailed relationship between vehicle streams - specifically sales, fleet composition, and oil displacement - and their influence on oil production forecasting. The study zeroes in on two primary vehicle categories: Internal Combustion Engine (ICE) vehicles and Electric Vehicles (EVs). Through a comprehensive analysis of trends within these streams, the research aspires to develop a robust predictive model that oil companies can leverage to enhance the accuracy of their production forecasts. The findings underscore the evolving dynamics between ICE and EV vehicles, elucidating their profound implications for future oil demand. This study not only offers valuable insights for strategic planning within the oil and gas industry but also contributes to the broader discourse on energy transition and sustainability. By understanding these shifting paradigms, stakeholders can make more informed decisions, aligning their strategies with the anticipated trajectory of the automotive and energy sectors.

Keywords: Vehicle sales, fleet composition, oil displacement, ICE vehicles, EV vehicles, oil production forecasting, energy demand, oil and gas industry

Edition: Volume 11 Issue 12, December 2022

Pages: 1377 - 1381

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