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Oil Will Trade Flat To Down Until Biden Backs Down & China Re-Opens | Rory Johnston

Forward Guidance

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The Oil Market Balance

The best case scenario we can have for oil market balance in my mind over the next year, two years is a slow burn recession. I don't see supply growing by more than kind of one and a half million barrels a day globally, anytime soon. The only source of fast supply on the world left will be the US shale batch because OPEC has basically tapped itself out. If you have a moment where all this demand is jumped back up, but supply hasn't moved, that's the kind of concern.

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