Oil Prices Must Drop Sharply To Compete With EVs

All major stakeholders in the oil industry need oil prices to be higher than the current $60 a barrel Brent Crude to turn profits or balance government budgets.

Yet, in the long term, oil prices at $60 wouldn’t be competitive in the transportation sector because they won’t be able to compete with electric vehicles (EVs), BNP Paribas Asset Management said in a research note last month. Read the full article here.