Cathie Wood Says Oil Could Fall to $30–$35 and Stay There

Cathie Wood says the shift from combustion engines to the electric grid could structurally reduce oil demand, given that roughly 57% of oil consumption is transportation-related. As transportation increasingly moves onto the grid, she argues demand for oil could unwind significantly.
Wood sees $30 to $35 oil as achievable again, but this time potentially as a sustainable level rather than just a crisis low.