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.

Dec 22, 2022

∙ Paid

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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Kaoboy Musings

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.

Continue reading this post for free, courtesy of Michael Kao.