KS / MO Community Banker ๐ Lender | Dad to 5 | Gal. 2:20 | Chiefs ๐ | Love talking Macro Econ | Bullish U3O8 โข๏ธ and things you have to drill for๐ข
The US is exporting all of the excess in gasoline and distillate.
What are we doing? Seriously?
We jawbone prices down so that everyone else can buy our products? Are you serious?
@drakesmith__ Love the content Drake. I felt this yesterday playing 9 holes with my daughter who is going to be a Senior next year. Savoring every moment.
@SheDrills Christine, this was excellent! I appreciate all the additional technical insights and risks mentioned for the Permian. Thanks to @MarhelmData for dropping the paywall. ๐๐ข๏ธ๐๐๐ผ
$150/bbl incoming...slowly and then all at once. The world is waking up and realizing that it is facing a long term supply crisis and the SPR inventory isn't enough to fix it. #OOTT
The oil market is not in equilibrium.
~14 mbd of supply has been disrupted.
Inventories are being drawn at an extreme pace.
Demand is falling โ but not enough.
Thereโs still a gap.
This only clears one way: higher prices.
Outstanding report by JPM.
H/t to @HFI_Research