How Russia Blew a Big Hole in the Oil Market

Published on: July 8th, 2022

Crude oil has slumped in recent weeks, as investors price in the potential impact of a global economic downturn on demand. That’s the short term. Warren Pies is focused on the long term, and he’s sticking to his bullish outlook for West Texas Intermediate and energy stocks. Pies, in conversation with Jared Dillian, the editor of The Daily Dirtnap, says demand destruction is inevitable during a recession. But what has and will take place is not sufficient to offset the deficit created by Russia’s invasion of Ukraine and the sanctions imposed on Moscow and its hydrocarbon exports. Absent a change in the international community’s attitude, Warren sees crude oil reaching new all-time highs sooner rather than later. Recorded on July 5, 2022.

Comments

  • JJ
    Jay J.
    14 July 2022 @ 16:27
    0 0
    This really makes RV look like an advertising platform for people selling their news letters and whatever else, this report is over 5 weeks old. considering how fast things are moving especially in the energy markets at least provide up to date reports. Something else i notice aisde from the great macro alf the majoriry of the regulars on RV are all selling something ie. Darius dale, that guy who moonlights as a dj, tony greer.. and many more, it gives off a scammy vibe and its not cool