The Tightening of the Crude Oil Market

The underlying reasons for the tightness that we're seeing right now is not only caused by the west cutting off Russia as a meaningful source of supply at least for now it is the lag of investment. It's creating a potentially at least a five-year period where we could see prices just remaining elevated and that's even if we see a slow down economic growth because we still need to fuel our economy. I'm still seeing demand growth coming in next year they have been moderated in recent months but even some of the banks have yet to change their outlook towards a contraction in demand.