Oil PricesToday is going to be an interesting oil inventory report.
Oil has been helped by Libya and Middle east tension but one of the most accurate USA gasoline demand forecastors has wild estimate for USA gasoline demand last week....supposed to be down over 10% compared to last year.
2023 was year of non-opec growth taming oil prices and OPEC extra cuts but for 2024 my worry is on gasoline demand in USA, Europe and China. Blunt but other poor countries dont use much gasoline.
Since 2020...USA is still selling 2-3m less auto's a year and what is selling is so much more fuel effiicent than past.
USA gasoline number will be thing to watch in 2024 all year.
Cause eventually countries will fight back for market share against USA if USA just exports all these energy products.