Glencore predicts Opec insulated from electric vehicle impact

May 22, 2017

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Opec nations that deliver some of the lowest cost production will be relatively insulated from an early peak in oil demand caused by any faster-than-expected roll-out of electric vehicles, Glencore’s chairman said on Monday. Members of the Organization of the Petroleum Exporting Countries meet this week in Vienna to decide whether to extend output cuts to reduce oversupply.

Category: General