Economists understand that demand curves shift when determinants such as income, complementary and substitute products, the number of buyers, and utility change.
EV sales surged by over 25% in 2024, now making up 1 in every 5 cars sold globally, and this impacted oil demand, which grew at just 0.8%.
With storage below the five-year average but demand still weak, traders watch for a shift in weather or LNG exports to drive ...
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