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Re: Oil-The Great China Re-Opening (Or NOT).
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Re: Oil-The Great China Re-Opening (Or NOT).

I would LOVE to be proven wrong on my ST bear view on Oil given my LT bull positioning, but anyone betting on a big rebound based on the Great China Re- Opening needs to be very careful.

Michael Kao's avatar
Michael Kao
Dec 22, 2022
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Re: Oil-The Great China Re-Opening (Or NOT).
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Yesterday, Lakshmi from Cap One put out her last note of the year and focused on PRODUCT demand. Remember that refiners consume Oil, and consumers consume products.

Some sobering charts follow:

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