...an excerpt from their paper...
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Global oil demand is projected to slow down in the long term, rising annually by only 0.4 mbpd until 2027, compared to 1.6 mbpd until 2023. Meanwhile global biofuels demand is projected to rise by 44% between 2022 and 2027 as it increasingly substitutes for petroleum-based products.43 In addition, the share of EVs in global car sales is expected to range between 62% and 86% by 2030.44 In response, many global automakers are reorienting to electrify large portions of their product portfolios.
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Change is coming...changes are needed...
Link: https://www2.deloitte.com/us/en/insights/industry/oil-and-gas/oil-and-gas-industry-outlook.html