Re: Oil-High Level Macro Thoughts For My LPs.

These are excerpts from my YE'22 letter to LPs.

Dec 19, 2022

∙ Paid

“The macro outlook for oil is complicated going into 2023, characterized by a tug-of-war between forces of supply curtailment (EU embargoes/price caps on Russian oil and products + OPEC+ quota cuts) and forces of demand destruction (global recessionary headwinds clouded by China’s troubled COVID reopening policies).

The much-touted China COVID Re-opening…

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