Sunday, July 9, 2017

Price Of Gasoline To Remain Lower For Longer? -- CNBC --July 9, 2017

From an earlier post, this graphic:

Note the drawdown in global crude oil reserves forecast through the end of 2017 (this graphic was posted in 2Q17). The forecast:
  • a global drawdown in crude oil reserves in the first three quarters of 2017; 
  • some small increases in global reserves into early next year; and, 
  • followed by a huge increase in 2Q18 which won't be offset by what follows
CNBC is suggesting the same. Link here.

I don't think any of this is new for regular readers of the blog.

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