#OIL Looking Nice
The actual price #USOIL is getting more stable many countries now are working with a reduction in the personal.
But there's is more mobilization in the main cities a potential reactivation in happening everywhere.
Price is attractive now for see a new movement.
Bloomberg...
What’s bad news for auto companies is also not-great news for the oil companies extracting, refining and selling fuel for the existing vehicle fleet. BloombergNEF expects that the electric vehicles currently on the road are already avoiding a million barrels per day of the world’s would-be oil consumption. That’s not a huge number out of last year’s 100 million barrels a day of consumption, but it’s rather more of today’s coronavirus-crippled demand.
More important for the oil business is where road transport demand is going. Here’s what the long term looks like: Demand recovery next year in the auto sector would lead to steadily increasing demand from for oil, but if and only if there’s no technological change. Fuel efficiency improvements bend that curve slightly. Electric vehicles tip it over, causing demand to peak in 2032 and tumble lower than 2019 levels within just a few years
The actual price #USOIL is getting more stable many countries now are working with a reduction in the personal.
But there's is more mobilization in the main cities a potential reactivation in happening everywhere.
Price is attractive now for see a new movement.
Bloomberg...
What’s bad news for auto companies is also not-great news for the oil companies extracting, refining and selling fuel for the existing vehicle fleet. BloombergNEF expects that the electric vehicles currently on the road are already avoiding a million barrels per day of the world’s would-be oil consumption. That’s not a huge number out of last year’s 100 million barrels a day of consumption, but it’s rather more of today’s coronavirus-crippled demand.
More important for the oil business is where road transport demand is going. Here’s what the long term looks like: Demand recovery next year in the auto sector would lead to steadily increasing demand from for oil, but if and only if there’s no technological change. Fuel efficiency improvements bend that curve slightly. Electric vehicles tip it over, causing demand to peak in 2032 and tumble lower than 2019 levels within just a few years
