Post by
Duster340 on Aug 10, 2023 9:09am
Oil moving lower
i am sure it will accelerate to the down side when the official EIA # comes out,maybe even a higher #. likely will be some profit taking today. do not be fooled by the pumpers the china economy is very weak, the rest of the world is slowing down, russia oil production on the rise earlier this week putin orders his weapons manufacters to increase production, joe will be pulling some strings to get wti back under $80. lol
glta
Comment by
masfortuna on Aug 10, 2023 9:25am
China's economy is growing at 6.5%. It is weaker than what some expected post covid BUT is Canada's economy grew at 6.5% would you consider that weak? You should post instead that a "weaker" than anticipated growth number equates to less oil demand. Devil's in the details.