Cathie Wood Says Oil Could Fall to $30 to $35 Without a Crisis

Cathie Wood says oil could fall to $30 to $35 without a crisis.
She thinks technological change could structurally reduce global oil demand and help bring inflation expectations down:
- Around 57% of oil consumption comes from transportation, which she expects to keep shifting from gasoline and diesel to electric
- Wood believes oil demand has been in the process of peaking as that transition accelerates across China, Europe, and the U.S.
- Unlike past drops during crises, she sees a move toward $30 to $35 being driven by technology rather than an economic shock