Many who focus on OPEC or OPEC+ are missing the indications of the market’s diminished confidence in the organizations’ ability to sustain higher prices. Click here to read more.
Oil Markets Have No Confidence in OPEC+
The lost confidence is evident in the precipitous drop in open interest (see graph). See Our Viewhere for more.
No Rush to Buy Crude (October 7, 2024) -- The 2024 oil market is quite different from past markets in which disruptions panicked oil refiners into a frenzy of buying and hoarding.