Last year, sales of electric vehicles around the world soared by 60 percent even at low gasoline prices, reports Bloomberg. If such growth rates continue, by 2023 the fall in oil demand may reach 2 million barrels per day.
In the next two years Tesla and Chevrolet are planning to sharply increase sales of electric vehicles with power reserve of up to 200 miles (322 kilometers equivalent). The average price for such machines will be reduced to 30 thousand dollars that will allow to expand considerably the base of potential customers.
Billions of dollars are being invested in the production of electric cars, companies like Ford, Volkswagen, Nissan and BMW. In addition to automakers, to their niches in this market are also eyeing Apple and Google.
This trend may be a problem for oil markets. OPEC claims that by 2040 electric cars will constitute only 1 percent of the world total car sales. Also speak disparagingly about the electric car market in the oil company Exxon.
The fall in oil prices become a long-term trend: if in February of last year, the price of a barrel of Brent was over 60 dollars, 24 February the black gold is trading at the level of 33 dollars per barrel.
February 16, Russia and several OPEC members (Saudi Arabia, Qatar, and Venezuela) agreed to freeze oil production. During the day the intention to join the agreement also said Iraq and Kuwait. Iran has approved this decision on 17 February. The objective of the arrangement is to support oil quotations, which for the half year declined by 70 percent.