The 2010s oil glut is a considerable surplus of crude oil that started in 2014–2015 and accelerated in 2016, with multiple causes. They include general oversupply as US and Canadian tight oil production reached critical volumes, geopolitical rivalries amongst oil-producing nations, falling demand across commodities markets due to the deceleration of the Chinese economy, and possible restraint of long-term demand as environmental policy promotes fuel efficiency and steers an increasing Sometime in the 2020s, BNEF predicts, the global EV fleet will be big enough to displace demand for 2 million barrels of oil per day —the same imbalance that triggered the current oil glut—radically slashing the value of petroleum investments. Already, oil prices have defied official predictions by staying low for as long as they have. The oil supply glut of 2018 and 2019 may just be a hint of what’s to come as EVs start to replace traditional gas-powered vehicles around the world. Over half of global oil demand is driven by transport, vehicles playing a big part. The analysis says EVs could begin cutting into oil demand by 2023, gradually building a fresh supply glut of two million barrels of oil daily, on a par with the overhang that triggered the 2014 collapse.
UPDATE 3-Hitachi, Honda suppliers to merge parts business to cut EV, self- driving costs Cramer Remix: One stock that could benefit big from the US oil glut.
21 Feb 2017 High gasoline and crude inventories do not bode well for oil prices this year. In fact, the glut of gasoline is now the worst in 27 years. And each new EV will drive that at an accelerated rate, due to ZERO gasoline needed. Keywords: Electric vehicle, battery electric vehicle, EV, renewable energy, national economy in the presence of lower oil prices, possibly growing by 0.1 5 Nov 2017 “The Effects of Oil Prices and Other Economic Indicators on House Prices in - US shale -Provincial election (2019) -The electric vehicle (EV) 14 Oct 2016 In the 1980s, when the oil shortage became an oil glut, Exxon shut down the hybrid program. It would then be 16 years before Toyota launched Während der Marinierzeit von 2 - 3 Stunden sollte man das Grillgut mehrmals wenden; damit anschließend keine Flüssigkeit in die Glut tropft, vor dem Grillen 25 Feb 2016 BNEF will discuss its EV forecast in detail at its upcoming annual BNEF 13 million barrels per day of crude oil but using 1,900 TWh of electricity. At the core of this forecast is the work we have done on EV battery prices. Transportation Oil Demand (in purple) indicates a glut will form around 2023 with >2Mbbl/day demand displaced by the global EV fleet. IEA estimates current global oil demand is around 100 million
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The 2010s oil glut is a considerable surplus of crude oil that started in 2014–2015 and accelerated in 2016, with multiple causes. They include general oversupply as US and Canadian tight oil production reached critical volumes, geopolitical rivalries amongst oil-producing nations, falling demand across commodities markets due to the deceleration of the Chinese economy, and possible restraint of long-term demand as environmental policy promotes fuel efficiency and steers an increasing Sometime in the 2020s, BNEF predicts, the global EV fleet will be big enough to displace demand for 2 million barrels of oil per day —the same imbalance that triggered the current oil glut—radically slashing the value of petroleum investments. Already, oil prices have defied official predictions by staying low for as long as they have. The oil supply glut of 2018 and 2019 may just be a hint of what’s to come as EVs start to replace traditional gas-powered vehicles around the world.
25 Nov 2019 The 2018 EV sales figure in itself represented an over 60% uptick on numbers recorded in 2017, according to McKinsey, and 2019 could yet see
29 Feb 2016 Growth in EV use could lead to next oil glut in 2020s. by Seth Sometime in the 2020s, BNEF predicts, the global EV fleet will be big enough to Bob McNally in the New York Times: "OPEC Tries to Head Off Oil Glut as Report sees wavering EV demand keeping oil afloat - Rapidan in an E&E News Our results show a significant impact of oil prices on the Russian economy. We predict that Russian oil and gas industry on the eve of changes. Article. UPDATE 3-Hitachi, Honda suppliers to merge parts business to cut EV, self- driving costs Cramer Remix: One stock that could benefit big from the US oil glut. 12 Oct 2019 Oil prices will face further declines as EVs continue to take market share. on gasoline-powered vehicles, which will accelerate EV adoption. 24 Mar 2019 “The idea electric cars pose a serious threat to oil might seem fanciful” From June 2014 to January 2015, an oversupply of oil sent prices crashing from $116 a barrel to $47 Tesla News Solar News EV News Data Reports
21 Feb 2017 High gasoline and crude inventories do not bode well for oil prices this year. In fact, the glut of gasoline is now the worst in 27 years. And each new EV will drive that at an accelerated rate, due to ZERO gasoline needed.
27 Mar 2017 Hedging is one of the levers U.S. oil companies have pulled in a bid to restart the shale oil business after Drillers lock in higher oil prices in surge of hedging Economic crash will slow EV revolution but not for long. 21 Feb 2017 High gasoline and crude inventories do not bode well for oil prices this year. In fact, the glut of gasoline is now the worst in 27 years. And each new EV will drive that at an accelerated rate, due to ZERO gasoline needed.