US election 2020: Is US oil demand’s trajectory at a crossroads?
The outcome of the US Presidential election has varied but subtle short-term and long-term impacts to US oil demand. In the next few years, oil demand’s growth trajectory is contingent upon containment of the Covid-19 pandemic, as the pace of economic recovery is also linked to pandemic containment amid high US unemployment rates and bearish consumer confidence. And in the long-term, the election results could provide some shift the US energy transition growth path for passenger cars. In this insight, we review the potential impacts of the US Presidential outlook on oil demand, both short and longer-term.