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Report suggests low-speed electric vehicles could affect Chinese demand for gasoline and disrupt oil prices worldwide

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Low-speed electric vehicles (LSEVs) could reduce China’s demand for gasoline and, in turn, impact global oil prices, according to a new issue brief by an expert in the Center for Energy Studies at Rice University’s Baker Institute for Public Policy. “

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2020 Thanksgiving week gasoline consumption in US lowest since 1997

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Gasoline sales fell 8.4% (nearly 185 million less gallons) from the previous week for the seven-day period ending 28 November, bringing consumption to the lowest level for a Thanksgiving Week in 23 years, going back to 1997. Northeastern gasoline sales dropped 10.1% —Tom Kloza, executive director, IHS Markit.

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IHS: US gasoline demand exceeds 2020 levels for first time; still trails pre-pandemic demand significantly

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Year-on-year gasoline sales in the United States have moved into positive territory for the first time on the one-year anniversary of the first major declines that resulted from COVID-induced stay at home orders. US gasoline same-store sales in gallons for the week ending 20 March 2021 were 10.1% on a same-store basis.

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IHS Markit: US gasoline demand could be cut almost in half due to COVID-19

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A sudden drop in miles traveled by car in the US triggered by wide-spread social isolation measures will have immediate ramifications for gasoline demand. IHS Markit analysis finds that US gasoline demand could fall by as much as 4.1 The four-week average US gasoline demand for the week ending 6 March 2020 was 9.1 million units.

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GlobalData: COVID-19 puts EV sales and CO2 fleet emission targets at risk

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GlobalData research shows that lower oil prices as a result of the COVID-19 crisis could reduce electric vehicle demand and impair EU efforts to significantly reduce average new vehicle CO 2 emissions in the European car market.

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EIA expects increased US crude oil production, with continued high petroleum prices in 2022

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Despite the increases in production, EIA expects the Brent crude oil price to remain above $100 per barrel this year, according to the agency’s May 2022 Short-Term Energy Outlook (STEO). EIA forecasts that retail sales of electricity to the industrial sector will grow by 2.8% —EIA Administrator Joe DeCarolis. and by 1.5%

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Lux Research: despite cheap oil, niche plug-in vehicle sales will be resilient; conventional hybrids to be hardest hit

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The current plunge in oil prices will likely negatively affect plug-in and hybrid vehicle sales in the short term; automakers such as BMW are already warning of lower sales of plug-in vehicles given the market context. Anticipated price of oil and forecast plug-in sales. Source: Lux Research.

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