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This is NOT 2008 | Harris Kupperman
Forward Guidance
The Supply Demand Picture Explains the Fall in Oil Prices?
Nadir: When oil was at $120, there was more demand and supply. He says China locked down for 150 days; 3 million barrels were offline. US dumped almost a quarter billion barrels of oil in the second half of last year. Nadir: As these things reverse, I think incrementally each month, the deficit's going to get larger. And expanding deficits make the price go up.
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