Video on oil
Posted: Mon Oct 03, 2022 3:52 pm
Key statement: "This world is out of spare production capacity for oil." Everything points to higher oil prices this winter.
OPEC+ is just cutting their official production quota this week because they cannot produce enough to meet the quota. OPEC+ actual production in August was ~3 million bpd below forecast. They do not have the physical supply without more Russian oil.