Eric Nuttall words for today...Seen on twitter's also on it's podcast
Most people don’t realize when we’re talking about a recession, the world’s thirst for oil still grows. It’s just a moderate pace.
You’ve got to go back to the financial crisis of 2009 or COVID.
Before that, it’s extraordinarily rare.
What I’m trying to get across is : the market is SO undersupplied already, that that very fear is exactly what we need to avoid inventories drawing further, and propelling the oil price meaningfully higher from here.
https://www.ninepoint.com/alt-thinking/audio/alt-thinking-podcast-inflation-nation-and-prices-at-the-pumps-with-eric-nuttall/