Price of oil is driven by international demand and supply.
What we do in the UK bar government intervention on duty and taxation makes little or no difference to the price.
Global demand is likely to fall over the next decade as EVs increasingly replace ICE - not just UK but Europe, US, Japan etc as countries try to come to terms with net zero.
The response of oil producers is unclear will cause them problems - either reduce output to keep the price up, or compete on price to get a bigger share of lower sales volumes. Either way their income will reduce.
All I am unsure of is how much total demand for oil in related to cars, and how much to power generation, shipping, aviation etc which may not reduce demand as rapidly.
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