WTI is down ~30% the past week, but the supply / demand thesis remains intact:
- Drawing from inventories every week
- OPEC continues to miss output targets
- Global demand rising
- Rig count lagging
- Multiple risks to supply still on the table
#OOTT #COM #EFT #CrudeOil #WTI
- Drawing from inventories every week
- OPEC continues to miss output targets
- Global demand rising
- Rig count lagging
- Multiple risks to supply still on the table
#OOTT #COM #EFT #CrudeOil #WTI
Global supply is still suppressed from 2019’s numbers. 
Global demand has rebounded and isn’t going anywhere but higher.
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