08 Dec, 23

Oil Rebounds as DOE Looks To Buy 3 Million Barrels For SPR In March

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With oil plunging an (almost) unprecedented 7 weeks in a row, the longest such stretch since 2018… … and many momentum chasing experts – the same ones who two months ago were calling for triple digit oil – already predicting that Saudi Arabia will soon be forced to do what it did in March 2020 when it flooded the market with oil to crush higher cost competitors, this morning we got a reminder of just why oil isn’t trading far, far higher. For those confused, the reason why oil is not in the triple digits is the drain of more than 300 million…

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