MacroVoices #365 Dr. Anas Alhajji: Energy Markets and Lessons Learned Since the Russian Invasion
Macro Voices
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Oil Prices Rise, Demand Declines, Demand Destruction
The theory is still valid. We have a problem with timing, and we got to see how the timing is going to work. For the rest of 2023, we should expect the first half really no exciting action. 2024 is the same story where it's more bullish than even 2022. The issue in 2024 becomes we don't have enough oil. Oil prices will increase. But there is no reason at that time for prices to decline for an extended period of time. What we are seeing right now is unlike what people think. This is the reality. And if you look at 2022, the growth in spending in 2022, if the highest in history.
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