Gregory Travis @gregorytravis.com · Apr 7 IOW, the people who sell oil will sell you a barrel of oil for $58, instead of $62, so long as you don't take delivery for another year The people who trade oil think that the price of oil in a year will be $4 a barrel LESS than it is today And not recover for ANOTHER FIVE YEARS
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That's a very bearish outlook, to put it mildly Now, to be fair, most of the trading activity is confined to the period from now till Christmas 2025 and there really isn't any activity beyond that for now But the point is that LOW OIL PRICES ARE NOT GOOD