RE:RE:Doubled my position here no brainer!"He was talking about the oil demand curve. We know that this year oil demand was about 400,000 bbl/day higher than last year ie year on year (yoy) daily demand was increasing ie the demand curve was getting steeper. So Nuttal said that we hit an inflection point which means that yoy daily demand was starting to level out. It's still increasing. But at a slower rate. Ok fine. In the next sentence he says that "demand is not the issue". He had just said that they hit an inflection point. Smh."
Both issues can be true at the same time IMO..
Demand can be strong even though we might be at an inflection point, if that's the case but I don't believe we are..
Demand being higher doesn't neccessarily mean the curve is steeper.. it could just be a constant growth of say 2% yoy without steepening the curve which again proves oil "demand" is not an issue... its only an issue when the demand drops.. which it hasn't so far and won't for years yet..