To a point. That demand destruction is not enough to put a hard cap yet. It's more behavioural economics. OPEC knows they need to keep prices low enough to slow the transition and not create a recession. When we start getting to the point where 50% of global car sales are EVs (around 2030), I think that's when you will really start seeing oil price ceilings. Right now though, keep in mind that even 20% of new car sales being EVs is not enough demand destruction yet. Road transport is 50% of global oil consumption. But of that, personal vehicles are probably half. And that 25% of oil consumption is spread out over a fleet that takes 15 years to roll over. So even if new car sales were 100% EV tomorrow, it would still take 15 years till that 25% of global oil consumption was zeroed out. This is why you don't see real panic from OPEC yet. Global oil demand is still growing. But once peak oil is actually confirmed, you'll start seeing policies and mindsets change completely as they all fight to maximize revenue on the way down.