this post was submitted on 21 Aug 2024
63 points (100.0% liked)

[Dormant] Electric Vehicles

3201 readers
2 users here now

We have moved to:

[email protected]

A community for the sharing of links, news, and discussion related to Electric Vehicles.

Rules

  1. No bigotry - including racism, sexism, ableism, casteism, speciesism, homophobia, transphobia, or xenophobia.
  2. Be respectful, especially when disagreeing. Everyone should feel welcome here.
  3. No self-promotion.
  4. No irrelevant content. All posts must be relevant and related to plug-in electric vehicles — BEVs or PHEVs.
  5. No trolling.
  6. Policy, not politics. Submissions and comments about effective policymaking are allowed and encouraged in the community, however conversations and submissions about parties, politicians, and those devolving into general tribalism will be removed.

founded 1 year ago
MODERATORS
[email protected]
Ceres
63
China's EVs are fueling a big oil demand slowdown (markets.businessinsider.com)
submitted 2 months ago by [email protected] to c/evs
7 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 7 points 2 months ago (2 children)

What does this sentence mean?

The firm estimates that oil demand growth in the country is down to 200,000 barrels per day for 2024 compared to last year, with overall consumption down by 300,000 barrels a day.

Is oil demand growing or not?

[–] [email protected] 3 points 2 months ago (1 children)

I can't find the original Goldman Sachs article anywhere, so I assume that it's not available free, but Reuters phrases it as "Goldman estimates a sharp slowdown in China oil demand year-over-year growth to 0.2 million barrels per day in the first half of 2024 and a year-over-year decline this summer." Based on that and how the Business Insider one contradicts itself, I assume that BI fucked up somewhere and the actual story is what Reuters said: demand growth has slowed to 200k barrels per day, and is expected to hit zero and then decline some time this year. The 300k per day number might be the prediction for how much lower demand will be at the end of the year compared to the end of last year, but Reuters doesn't say anything about that one

[–] [email protected] 1 points 2 months ago

Thanks, this seems plausible

[–] [email protected] 1 points 2 months ago

it's growing but not as much as before and it'll peak sooner than expected.