12 Sep, 23

Hedge Fund Partner Blasts Oil Demand Decline Narrative

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“We have never consumed more oil in history than we have today,” Eric Nuttall, partner and senior portfolio manager at Ninepoint Partners told Bloomberg in an interview, adding that the trend is obvious despite the argument that recession has hit demand for oil. “We’ve been fighting this narrative about weak demand due to a recession, which we’ve been hearing about for a year,” Nuttall said, adding that OPEC+’s production restrictions have contributed to a growing imbalance between supply and demand. Global oil inventories…

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