General Discussion

There was an expectation of an oil glut in the second half of 2026. I don't know how fast oil will drop. $80/barrel, maybe a little less, seems like the right price for a few months until the logjam at the Strait is released.

After that, there has been a lot of demand destruction for oil. Continued rapid electrification will have a huge impact on long-term oil demand, and that is effecting the short term. People focus on cars, but home heating oil is actually a bigger target for electrification.

Ignore what the "experts" say. Watch the market. If the market is dropping, then the smart money thinks that oil will be cheaper tomorrow than it is today.