RE:This recession and Oil price is ConfusingI've said it before and I'll say it again , Biden will push for lower prices right up to when the pumps run dry . Recesion fear , demand destruction fear is all a smokescreen which will leave a lot of empty tanks when the smoke clears . Everyone has picked their side of the arguement , now it's just a matter of time before reality takes over .
Tradestay wrote:
Lowest oil inventory in decades. September 2022 oil demand surpassed 2019 demand even with all the talked about Economic head winds. Also air traffic is up considerably, distillate fuel very low at a time of year when the transportation industry will be making lots of deliveries. I think if oil price is manipulated down for political reason all that does is keep demand up and intensifies inventory draws at the detriment of the consumer in the long run. Thoughts!!!!