RE:Bob McNallyThis was my comment a couple days ago about McNally..
"Just on BNN yapping about lack of demand for crude.. LOL.. demand is at an all time high and going higher.. although at a slower pace, its still climbing.."
And from a poster on another BB I follow this article excerpt:
"As for the OPEC meeting, the proposed unwinding of 2.2m bpd voluntary cut starts in October (data defendant mind you) and last one year. The balance of the cuts get extended to the end of 2025. If demand hits ipex estimates of 104m bpd in q4 then we need every barrel possible to meet that number. Even the EIA/IEA thinks demand will be at 103m bpd at that time. Bullish notwithstanding whatever the market does now. Also bear in mind that if Biden releases barrels from the SPR then that is a data dependent event, and OPEC will pause."
So again I say, these so called "analysts" are just talking their book and nothing more IMO.. just making a comment without data is just an opinion.. and a distorted one at best.. :-/