The stunning rise of Tesla -- and growing popularity of electric vehicles broadly -- poses a glaring problem for the oil industry. All of this combined with great strides in fuel-efficient cars has led oil execs to contemplate what was once-unthinkable: global oil demand could hit a peak. And major auto makers like Volkswagen, Ford (F) and Honda have announced ambitious goals to sell more and more electric cars. Yet the firm said it's "surprisingly constructive" on oil demand, at least relative to the pessimistic views that have become more popular recently. "We believe the 'peak oil demand' thesis has a very large blind spot on miles traveled," Morgan Stanley wrote.

Source: CNN June 07, 2017 17:15 UTC