Source on petro products becoming cheaper? It's the natural inference from supply and demand (so I agree it's possible), but it's worth keeping in mind that oi

Source on petro products becoming cheaper? It's the natural inference from supply and demand (so I agree it's possible), but it's worth keeping in mind that oil is a very big capital-intense business. Extraction, multiple rounds of transport, and refining all have significant economies of scale. Some of those scale advantages might break down if demand downscaled to any small fraction of current, which could make the fallout unpredictable. I'm also not sure how fungible a barrel of oil is. That is to say, is the fuel fraction of current production easily repurposed for making plastics, or is that fraction more or less destined to become fuel of some sort? If fixed fractions are just compositionally destined for certain uses, a collapse in demand for those fractions could actually increase the cost of the remaining in-demand fractions since they still have to cover the costs of production.