Green Car Congress

MAY 13, 2015

The resulting crash in oil prices is forcing some production out of the market, and Saudi Arabia intends for the brunt of that to be borne by others. There is a lag between movements in the oil price and corresponding changes in production. But the effects of the oil price crash are now being felt.

Saudi Arabia 150

Saudi Arabia Oil Prices Oil Price 150

Green Car Congress

JUNE 1, 2016

According to a separate report from SAFE, a Washington-based think tank, the oil industry has cut somewhere around $225 billion in capex in 2015 and 2016, which will lead to global supplies 4 million barrels per day lower in 2018-2020, compared to what market analysts expected as of 2014. The price acts as a self-correcting mechanism.

Oil 150

Oil Supplies Market Oil Prices 150

Green Car Congress

APRIL 18, 2020

March appears to have been solid, on preliminary data, and April may even reach prior-year volumes thanks to strong government stimulus, but we do not see all of the lost volume being made up. The local industry is already recovering, with commercial vehicle plants re-opened.

2020 191

2020 Commercial Global Production 191

Green Car Congress

JANUARY 1, 2011

” Their analysis is in the context of the “ surprising [oil] demand strength of 2010 “; 2010 saw absolute incremental demand at around 2.2mb/d of growth—the second highest in 30 years, despite oil prices in the $90/bbl region. He also believes that sub-1.6L Click to enlarge.

Transportation 250

Transportation Gasoline Lithium Ion Gasoline-Electric 250

Green Car Congress

APRIL 7, 2010

This growth is the result of an expected recovery in the global economy, with world gross domestic product (GDP, on an oil-weighted basis) assumed to rise by more than 3 percent per year. EIA has revised its assessment for Asia upwards and Europe downwards for 2010 in response to preliminary first-quarter data for those regions.

2008 186

2008 2010 Emissions Fuel 186

Wallbox

JANUARY 4, 2021

Outside of Europe, the US and China have experienced a sharp decrease in overall car sales as well. Moreover, with the massive drop in oil prices , gas-powered vehicles are more economical to operate, which makes it harder to argue that EVs will help drivers save money on fuel.

Economy 52

Economy Electric Vehicles Vehicles Electric 52