MM119: When 'good' news is 'bad' news for markets & Are OPEC+ fighting a losing battle?
Market Maker
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The Importance of Long Term Demand in Oil Prices
The Energy Information Administration projects US crude oil production will climb 720,000 barrels per day to 12.61 million barrels per day this year. OPEC says there has been a chronic lack of investment into long term oil production. The IEA is actually saying that long term demand, they think so between the years 2022 to 2028, may be lower than previously thought because of energy transition.
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