EVs will force demand reversal for transportation fuels by 2027

Per Bloomberg

One of the main attributes of electric cars is that, as the name suggests, they are powered by electricity and not regular fuels. Now, BloombergNEF analysts believe there could be a demand reversal for transportation fuels by 2027.

It was noted that despite how EVs could see a demand reversal for transportation fuels, other areas like plastics, petrochemicals, manufacturing, and agriculture would still see a continued rise in oil demand. The notable expectation is taht in 2029, the shift to EVs was reportedly expected to outweigh "all else and bring total demand to its apex."

However, it was also noted that oil analysts have time and time again been proven wrong after years spent trying to grasp the impact of EV transitioning. It was also noted that the largest oil demand since cheap and affordable cars were released has always been road transportation.

The analysts wrote the following.

“New policies are likely to expedite ‘peak oil demand’ and push the outlook for consumption lower... As the biggest consumer of oil, and one with several options to decarbonize, the future for road fuel demand is likely to decline even further than our Economic Transition Scenario suggests.”

In 2022, it was noted that China was able to sell five times more electric vehicles compared to the US. This came from data released by the China Passenger Car Association regarding 2022 sales data which showed how their EV sales did against the US.

China reportedly sold 5.67 million EV and plug-in hybrid vehicles throughout the year. The country reportedly sold 4 million pure EVs during that period.

China is reportedly considered the largest EV market in the world.

Toward the end of April, it was noted that nearly half of Americans said that it's unlikely that they'll buy an electric vehicle as their next car. Only 19% of them said that they were"very" or "extremely" likely to buy an EV as their next car.

See flow at unusualwhales.com/flow.

Other News:

Resources:

Bloomberg

tastytrade logo+
Get the best broker for options trading and earn Unusual Whales discounted! in cash with an eligible account deposit at tastytrade. Get an Unusual Whales bonus when you deposit $2000. Offer expires 3/31/25. Certain restrictions, terms and conditions apply.
Unusual Whales does not confirm the information's truthfulness or accuracy of the associated references, data, and cannot verify any of the information. Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Options, investing, trading is risky, and losses are more expected than profits. Please do own research before investing. Please only subscribe after reading our full terms and understanding options and the market, and the inherent risks of trading. It is highly recommended not to trade on this, or any, information from Unusual Whales. Markets are risky, and you will likely lose some or all of your capital. Please check our terms for full details.
Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Certain investment planning tools available on Unusual Whales may provide general investment education based on your input. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situation. See terms for more information.