If oil is still here for the long term and it's demise is not imminent, then reduced demand (people switching to EVs) should drive down prices. At least that's how the market should work. But I think oil compaines have ways of subverting the market.This.
Long term, price of oil is going up, period.
Scarcity + artificial scarcity will drive this via:
1) activist investors snagging positions on the boards of oil giants and pushing green initiatives (already happening)
2) serious lack of interest in initiating drilling new drilling projects in an increasingly unfriendly regulatory environment
Oil investors are now heavily involved in (often subsidized) green energy projects but they're sure as hell not selling or shutting down their infrastructure.
Because powering the world with green energy is still a pie in the sky and the goals being set are unrealistic...so-called green energy is still toxic as f*ck...but the subsidies to push green initiatives with no regard to efficiency will remain.
The bottom line is oil is still going to be running the planet for the long term
And constraints are placed on supply, and the more green initiatives are pushed, these guys will be winning 360 degrees.
On the other hand, though the demise of oil (petroleum) might not be imminent, it is guaranteed, and humanity would do well to start the process of weaning itself off the oily tit sooner rather than later. The nations that get ahead of this curve will be at a major advantage.