OPEC said the global push to electrify will lift electricity demand for decades
but risks understating oil's role, because manufacture, transport and
maintenance of equipment, cables and charging infrastructure depend on oil and
petrochemical products. It cited that mid‑size EVs may contain about 45% more
plastics and polymer composites than comparable ICE cars, wind turbines derive
roughly 15% of their weight from oil‑derived materials and crystalline silicon
solar panels about 10%. Grid construction and renewable installations also rely
on oil‑derived products. OPEC said energy sources are not zero‑sum and meeting
global demand, alleviating energy poverty and ensuring energy security will
require multiple fuels; the future should be an 'era of all fuels', not solely
an 'electricity era'.
