RE:RE:RE:RE:RE:RE:Boy did Nuttall get it wrong!cashtango00 wrote: Would it shock you to know that commercial inventories in the US are 46% higher than in 1984? Is consumption higher now? yes, but there is still a lot of oil out there. futures aren't selling off hard for no reason. I strongly suggest you follow Anas Alhajj on Twitter. He is an incredible resource that is well respected around the world. Everyone that invests in energy should follow him. Some of his stuff is in Arabic, but plenty in English. Its great unbias info on the energy markets. Too many people are drinking the Eric Nuttall heavy promo juice. I am a big MEG investor, but too many pumpers with ridiculous ideas and expectations.
Flip flopping like a wet noodle he was on twitter spaces less than 2 months ago saying that historically recesssions do not cause demand contraction just slower growth.
Now he's talking about the Chinese SPR. What it didn't exist 2 months ago?
OPEC spare capacity now @ Zero.
The blatant manipulation of oil prices will have US shale holding steady @ best
For some reason people think if the war ends it will be business as usual, the companies that left Russia lost billions of dollars & their assets, they aint going back anytime soon.
Real sanctions start in Jan maybe we need the chinese SPR to the tune of 10M a week.
Just saying