Understanding OPEC's Surprise Move
Real Vision: Finance & Investing
00:00
The Implications of a Recession for Oil Prices
I think the world's gotten way too focused on what the US is doing because we used to be such a big piece of the oil puzzle. The incremental demand, it's not here. Europe and the US have almost flatlined for a decade now. It's really India where they sold 50% more motorbikes this year. I mean, those motorbikes are future demand for oil. Look at what's happening in China. Look at Africa. Look at Southeast Asia. It's all growing very, very rapidly in terms of oil demand. And as a result, they're going to need a lot more energy. Can middle-east producers meet that kind of demand? No.
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