Energy Outlook Advisors: A Report on the Outlook for 2024

With the Russian invasion of Ukraine and then the sanctions and the price cap and everything else, the data deteriorated significantly in the oil market. No one knows what the correct numbers are. We don't know. Add to that that the AIA until now couldn't figure out a way to reduce the adjustment number as you know in this weekly data which increased significantly since last year. That's data deterioration too. And add to it other issues related to the threshold even within OPEC members between what is condensate and what is crude because no one knows really where the boundaries are. So a country can exceed the quota and literally tell OPEC members oh by the way that was condensate so you should