General Discussion

I believe we will really see an overhang of oil in 2027 or whenever this is fully resolved. We are being set up for an oversupply of oil once the straits are open and currently oil is tight. It’s not short and readily available.

There is 412 million barrels in our reserves last week. We are drawing 8 million barrels a week. We have a long way to go.

Brent futures are up on the latest news about Iran, but still at $80. Readily available Brent spot is in line a slightly higher. Oil is readily available.
China has reserves to last easily through 2026.

If oil was truly short, you would see it in the forward pricing curves or spot buys of traded oil. Those numbers have steadily decreased the last weeks.