• 4 minutes What If Canada Had Wind and Not Oilsands?
  • 8 minutes EU Confirms Trade Retaliation Measures vs. U.S. To Take Effect on June 22
  • 17 minutes Could oil demand collapse rapidly? Yup, sure could.
  • 4 hours Kaplan Says Rising Oil Prices Won't Hurt US Economy
  • 3 hours Could oil demand collapse rapidly? Yup, sure could.
  • 4 hours U.S. Withdraws From U.N. Human Rights Council
  • 13 hours Tariffs to derail $83.7 Billion Chinese Investment in West Virginia
  • 13 hours EU Confirms Trade Retaliation Measures vs. U.S. To Take Effect on June 22
  • 9 hours "The Gasoline Car Is a Car With a Future"
  • 7 hours Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 6 hours Saudi Arabia turns to solar
  • 46 mins Gazprom Exports to EU Hit Record
  • 17 hours North Korea, China Discuss 'True Peace', Denuclearization
  • 3 hours China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 7 hours What If Canada Had Wind and Not Oilsands?
  • 10 hours EVs Could Help Coal Demand
  • 17 hours WE Solutions plans to print cars
  • 23 hours Hey Oil Bulls - How Long Till Increasing Oil Prices and Strengthening Dollar Start Killing Demand in Developing Countries?
  • 1 day Lloyd's of London excludes coal
Editorial Dept

Editorial Dept

More Info

Trending Discussions

Higher Breakeven Price Comes At Bad Time For Saudis

Saudi Arabia

In the latest edition of the Numbers Report, we’ll take a look at some of the most interesting figures put out this week in the energy sector. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers.

Let’s take a look.

1. EV sales at record high

(Click to enlarge)

- Sales of EVs and plug-in hybrid electric vehicles soared in the third quarter of this year, jumping 63 percent compared to the third quarter of 2015.
- Combined, about 45,000 EVs and plug-ins were sold in the U.S. in the third quarter. That is also up 20 percent from just the second quarter of 2016. Tesla (NYSE: TSLA) led the way, selling 24,500 vehicles.
- More than half a million EVs are currently used on American roadways.
- Sales are expected to continue to rise as costs fall. Battery costs have declined by 73 percent since 2008, falling to just $268 per kilowatt-hour, according to the FT. EVs are expected to hit price parity with conventional cars when battery costs drop to $100/kilowatt-hour, which many expect to happen in the early 2020s.
- Chevy is expected to release its all-electric Bolt by the end of the year and Tesla is set to release its Model 3 next year.

2. Saudi breakeven price higher than thought

(Click to enlarge)

- The IMF sharply revised up its estimate for the oil price that Saudi Arabia needs for its budget to breakeven.
- In April, the IMF projected…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News