Read This: Why U.S. oil production grow has stopped
Posted: Mon Aug 26, 2019 9:57 am
https://oilprice.com/Energy/Crude-Oil/T ... eaked.html
From time-to-time I write an article for Oilprice.com
My goal with the article above to get more of the analysts that write for the website to step back and focus on supply/demand fundamental. It is my opinion that the "FEAR" that the U.S. vs China Trade War will cause a major recession and thus a big drop in demand for oil is way overblown. Even IEA that tends to be bearish has only lowered their demand forecast by a few hundred thousand barrels per day; a tiny percentage of global demand. IEA still thinks demand will be up over a million barrels per day in 2019 and another million in 2020.
If I'm right that U.S. oil production growth has stopped, that will tighten oil supply/demand much more than the impact of the trade war.
From time-to-time I write an article for Oilprice.com
My goal with the article above to get more of the analysts that write for the website to step back and focus on supply/demand fundamental. It is my opinion that the "FEAR" that the U.S. vs China Trade War will cause a major recession and thus a big drop in demand for oil is way overblown. Even IEA that tends to be bearish has only lowered their demand forecast by a few hundred thousand barrels per day; a tiny percentage of global demand. IEA still thinks demand will be up over a million barrels per day in 2019 and another million in 2020.
If I'm right that U.S. oil production growth has stopped, that will tighten oil supply/demand much more than the impact of the trade war.