RE:Don’t kid yourself that driving is quickly recoveringDriving in China is peaking ABOVE last year. It keeps them out of the subway cars. Jet fuel tanked, but diesel use is primarily by essential services and will recover (though not quickly).
WheresMeGold wrote: I’ve seen articles suggesting driving is returning to normal levels. While gasoline is recovering better than diesel and jet fuel, all transportation, including driving, are down and will remain so through this year into next.
There is one simple fact to confirm driving will remain down. Insurance companies are cutting auto insurance rates by 20-25% in many cases. They aren’t doing this out of the goodness of their hearts. Driving is down significantly and so accidents are down significantly. They know better than any of the trend and want to make a move before they are pressured to.
Oil demand will remain low. Invest accordingly. JMHO. GLTA.