Oil demand will increase thru at least 2038
Posted: Sat Mar 12, 2022 3:22 pm
You should all read this:
https://www.msn.com/en-us/money/markets ... d=msedgntp
In today's podcast, the major point I want to make is that global demand for oil exceeds supply TODAY by ~2 million barrels per day AND oil prices were going to more than $100/bbl per day in a few months even if Russia did not invade Ukraine.
If 1/3rd of Russian oil is off the market for an extended period we may see $150/bbl oil this summer and we may see fuel rationing in Europe.
On slide 3 of the podcast I want to make clear that the U.S. imported 8,840,000 bbls of petroleum (71.5% crude oil) PER DAY for the week ending March 4.
https://www.msn.com/en-us/money/markets ... d=msedgntp
In today's podcast, the major point I want to make is that global demand for oil exceeds supply TODAY by ~2 million barrels per day AND oil prices were going to more than $100/bbl per day in a few months even if Russia did not invade Ukraine.
If 1/3rd of Russian oil is off the market for an extended period we may see $150/bbl oil this summer and we may see fuel rationing in Europe.
On slide 3 of the podcast I want to make clear that the U.S. imported 8,840,000 bbls of petroleum (71.5% crude oil) PER DAY for the week ending March 4.