Interesting Perspective 2 Hoarding is the biggest bullish factor for oil right now: Confluence Investment Management
Bill O'Grady, chief market strategist at Confluence Investment Management, talks about the latest U.S. oil inventories data. He says when you see strong oil demand and a strong dollar, that’s usually a recipe for OPEC+ cheating with its policy decisions, but he doesn't think that's happening here. He says there might be many countries within the organization that are having a tough time meeting production targets, but they are keeping it hidden.
https://www.bnnbloomberg.ca/video/hoarding-is-the-biggest-bullish-factor-for-oil-right-now-confluence-investment-management~2393511