Energy Prospectus

Forget Media Hype. Oil Set To Rebound
Oilprice.com
By Leonard Brecken on July 21, 2015

"Despite oil prices being somewhat depressed by the hype surrounding the Iran deal (which has repeatedly been debunked as not affecting supply until, at the earliest, the first quarter of next year) expect another large oil inventory draw to come, starting off with the API inventory figures published on Tuesday followed by Wednesday’s EIA report, which I expect to not only show an inventory draw of over 4 million barrels again but continued declines in production."

Read: http://finance.yahoo.com/news/forget-me ... 55477.html

From Mitch Zacks:
"China has already had two bear markets since 2009
when the global expansion and bull market began. Yet,
neither one managed to derail the course of global
growth and the stock appreciation that’s followed. I do
not think this Chinese ‘bear’ is set to break that pattern.
The Chinese economy is still set to grow 7% this year
(recent figures show it just expanded right at 7% year
over year), which is a huge, positive contribution to
global GDP. Additionally, the People’s Bank of China
has demonstrated a willingness to cut interest rates, and
stimulate the economy, which should ultimately bode
well for stocks in the medium term."

As long as the Chinese economy is growing at this rate, global demand for oil will keep accelerating. Look for EIA to continue to increase their demand forecast for 2015. My SWAG is that the final "forecast" put out by EIA will show that demand for oil went up more than 2,000,000 barrels per day YOY in 2015. - Dan