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"U.S. demand has been pressured by a mix of factors, including more people flying instead of driving long distances and more fuel-efficient cars and electric ve
by MilnerRoute 2y ago
"U.S. demand has been pressured by a mix of factors, including more people flying instead of driving long distances and more fuel-efficient cars and electric vehicles, UBS analyst Giovanni Staunovo said last month."
https://www.reuters.com/markets/commodities/global-gasoline-refining-margins-slump-slow-summer-driving-season-2024-06-17/ https://www.reuters.com/markets/commodities/global-gasoline-...
Having said that, it's only 1.7% below last year.
- toomuchtodo 2y agoLike bankruptcy, the energy transition happens slowly and then all of a sudden. 20% of 2023 global light vehicle sales were EVs and hybrids, and the manufacturing ramp rate for EVs is rapidly accelerating. Are we at peak oil demand? Almost it appears. https://www.iea.org/commentaries/oil-demand-growing-at-a-slower-pace-as-post-covid-rebound-runs-its-course https://www.iea.org/commentaries/oil-demand-growing-at-a-slo... https://www.iea.org/news/slowing-demand-growth-and-surging-supply-put-global-oil-markets-on-course-for-major-surplus-this-decade https://www.iea.org/news/slowing-demand-growth-and-surging-s...