Comment on Crude oil futures end week lower as market eyes potential for increased supply amid OPEC+ tiff
MrMakabar@slrpnk.net 2 weeks agoChina’s oil consumption was unfortunatly still going up last year. Before Trump’s tariffs most analyst predicted a stagnation of oil consumption in China.
Trump also is burning down enviromental protection in the US, which means drill baby drill.
EV sales are growing in developing countries. Brazil for example crossed the 5% mark this year. India saw a 20% growth in EV sales so far as well.
Wanderer@lemm.ee 2 weeks ago
Yes but the trend has changed. Oil demand was growing largely due to China. That has stagnated massively. The change is trend of demand links with a change in the supply from Russia. I’m not on expert on these matters and I don’t want to come across like that.
But it seems if China didn’t stop increasing we would have had price issues.
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With dropping oil prices American firms won’t want to drill. Also imports of materials has gone up and China has stopped buying American LNG.