• 6 minutes Saudis Threaten Retaliation If Sanctions are Imposed
  • 11 minutes Can the World Survive without Saudi Oil?
  • 15 minutes Saudis Pull Hyperloop Funding As Branson Temporarily Cuts Ties With The Kingdom
  • 21 mins WTI @ $75.75, headed for $64 - 67
  • 2 hours U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects
  • 1 hour Saudi-Kuwaiti Talks on Shared Oil Stall Over Chevron
  • 5 hours OPEC's No. 2 Producer Wants to Know How Buyers Use Its Oil
  • 1 hour UN Report Suggests USD $240 Per Gallon Gasoline Tax to Fight Global Warming
  • 8 hours U.S. - Saudi Arabia: President Trump Says Saudi Arabia's King Wouldn't Survive "Two Weeks" Without U.S. Backing
  • 53 mins Closing the circle around Saudi Arabia: Where did Khashoggi disappear?
  • 7 hours Iranian Sanctions - What Are The Facts?
  • 20 hours How High Can Oil Prices Rise? (Part 2 of my previous thread)
  • 28 mins EU to Splash Billions on Battery Factories
  • 5 hours China Thirsty for Canadian Crude
  • 4 hours Who's Ready For The Next Contest?
  • 8 hours Superhumans
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