https://info.aegis-hedging.com/webcast- ... 1653567678
OCED inventories have risen thru 2022
Liquidations CTA, trend following aLgo's
either oil ep too high or crude too low
aegis webinar must watch
Re: aegis webinar must watch
OECD Commercial Petroleum Inventories have only risen since early 2022 because of draws from the Strategic Petroleum Reserves of the U.S. and several other countries. As I pointed out in yesterday's webinar, if not for the SPR draws the U.S. crude oil inventories would be at a "dangerous" level, threatening to disrupt the most important supply chain on Earth. Our oil-based products supply chain is EXTREMELY IMPORTANT to the health of our economy.
Demand for oil-based products is "seasonal"; lowest in Q1.
If the SPR draining is over and we don't have a MAJOR RECESSION, OECD Petroleum Inventories will go on steady decline starting in Q2. This is the basis for Goldman Sachs' and Raymond James' forecasts that oil prices will move over $100/barrel this summer.
The guys at AEGIS seem to agree that the fundamentals point to much higher oil prices.
Demand for oil-based products is "seasonal"; lowest in Q1.
If the SPR draining is over and we don't have a MAJOR RECESSION, OECD Petroleum Inventories will go on steady decline starting in Q2. This is the basis for Goldman Sachs' and Raymond James' forecasts that oil prices will move over $100/barrel this summer.
The guys at AEGIS seem to agree that the fundamentals point to much higher oil prices.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group