February 10, 2026–Written by Daniel Graeber for IIR Energy Intelligence (Sugar Land, Texas)–Commodity trader Vitol said in a long-term market outlook published Monday that oil demand is expected to stay strong due in part to the moderation in the electric vehicle (EV) sector, though alternative vehicles are still gaining traction globally.
Vitol said that road transportation is the primary factor determining the trajectory for global oil demand. The uptake in EVs, however, is slowing down in the U.S. economy, the largest in the world.
