How Russia Blew a Big Hole in The Oil Market

Crude oil has slumped in recent weeks, as investors price in the potential impact of a global economic downturn on demand.

That’s the short term. Warren Pies is focused on the long term, and he’s sticking to his bullish outlook for West Texas Intermediate and energy stocks. Pies, in conversation with Jared Dillian, the editor of The Daily Dirtnap, says demand destruction is inevitable during a recession.

But what has and will take place is not sufficient to offset the deficit created by Russia’s invasion of Ukraine and the sanctions imposed on Moscow and its hydrocarbon exports.

Absent a change in the international community’s attitude, Warren sees crude oil reaching new all-time highs sooner rather than later. Recorded on July 5, 2022.


00:00:50 The Bull Case for Oil
00:09:51 Russian Sanctions and the Supply Deficit
00:15:38 Oil Price Outlook if We Enter Recession
00:18:45 President Biden’s Criticism of Big Oil
00:24:05 Back to New All-Time Highs?
00:25:44 Energy Stocks to Buy and Avoid
00:32:14 Reaching Peak Oil Demand

#crudeoil #recession #hydrocarbon

Thanks for watching Real Vision Finance!

About Real Vision™:
Real Vision™ is where you can gain an understanding of the complex world of finance, business, and the global economy with real in-depth analysis from real experts.

Connect with Real Vision™ Online:
🔥 𝗚𝗘𝗧 𝟳 𝗗𝗔𝗬𝗦 of Real Vision’s insights for only $𝟭 (seriously!)

#Macro #finance #macroeconomy #markets #financialmarkets #bonds #stocks #oil #gas #commodities #equities #gold

This is pretty obvious, but we should probably say it anyway so there is no confusion…The material in REAL VISION GROUP video programs and publications {collectively referred to as “RV RELEASES”} is provided for informational purposes only and is NOT investment advice. The information in RV RELEASES has been obtained from sources believed to be reliable, but Real Vision and its contributors, distributors and/or publisher, licensors, and their respective employees, contractors, agents, suppliers, and vendors { collectively, “Affiliated Parties”} make no representation or warranty as to the accuracy, timeliness or completeness of the content in RV RELEASES. Any data included in RV RELEASES are illustrative only and not for investment purposes. Any opinion or recommendation expressed in RV RELEASES is subject to change without notice. RV Releases do not recommend, explicitly nor implicitly, nor suggest or recommend any investment strategy. Real Vision Group and its Affiliated Parties disclaim all liability for any loss that may arise (whether direct indirect, consequential, incidental, punitive or otherwise) from any use of the information in RV RELEASES. Real Vision Group and its Affiliated Parties do not have regard for any individual’s, group of individuals’ or entity’s specific investment objectives, financial situation, or circumstance. RV RELEASES do not express any opinion on the future value of any security, currency, or other investment instruments. You should seek expert financial and other advice regarding the appropriateness of the material discussed or recommended in RV RELEASES and should note that investment values may fall, you may receive less back than originally invested and past performances are not necessarily reflective of future performances. Well, that was pretty intense! We hope you got all of that – now stop reading the small print and go and enjoy Real Vision.