Oil rallying to $ 34.37 now....going to $ 45/b in June 2020Oil demand is STRONG.
With massive cuts in production and strong oil demand, oil prices will keep on rallying.
The present case was not a recession or depression, it was forced lockdown at home, which is very different and, people WANT TO GO OUT and HAVE A LIFE.
The last thing they want to do is stay at home.
This means lots of activities and, of course lots of demand for gasoline and oil as we move around.
As airplanes begin to return to normal expect even stronger demand for oil.
MPO