Good question. I'm no expert. I hope that the lower demand is resulting from transportation efficiency as well as better technology for extraction.
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Good question. I'm no expert. I hope that the lower demand is resulting from transportation efficiency as well as better technology for extraction.
I believe it has to do with OPEC who produces almost half of the worlds oil and how many barrels they're producing daily. Has nothing to do with cars being more efficient imo atleast not right now to impact the prices like they have been in the last few weeks.
https://seekingalpha.com/article/4083637-oil-simply-catch-break
Here is a good article to read.
Yeah I think it's because of too much supply maybe from fracking... and the rise of popularity for electric cars... I can't wait when the whole world turns to alternative energy