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Surveillance: Historic Times in FX

Bloomberg Surveillance

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Can You Explain Why Demand Is Falling Off So Much More Than People Think?

Demand in the month of august was close to two million barrels a day lower than it was in august 20 21. That's because people simply decided to drive less, as we have survey data that prove that. Buti miles travelled have gone down, so you don't get high prices, and people react to that by not buying as much. And that thats kind of a lesson, potentially, for europe. We've seen, effectively, conservation working as a result of consumery response to high prices across across the united states. The other experiment is what's going to happen politically as people get more concerned about inflation in their pocket book and jobs than they do about russia and

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