OIL - OPEC CUTS & Recession

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Since June 1st, 2023 I have been educating people on trading oil properly. OPEC cuts are never a reason to buy oil.

The opposite is true, OPEC cuts mean the oil demand is maxed out for the world economy. Yet I had ignorant people tell me about EIA reports (which were worthless), My oil education was NOT educational, (because to them they can't analyze fundamentals beyond the last trade on oil price) or resort to intuitive INCORRECT sound bites that "less oil available = higher prices" ALL WRONG!

Here is the link for your viewing pleasure time-stamped on TV.

Fast forward to Sept 11 2024 and we can all now see I was 100% right! Oil went nowhere! OPEC Cuts did nothing to raise the price of oil. Not even a war in Russia and the Middle East could help raise the price of oil. Further underscoring how important the global economy is to Oil.

Currently, there is a lot of pessimism about the future of the global economy. Rightfully so in my view.

If you are an oil bull this is a good risk-reward point.
If you are a bear You should not be shorting in the hole.

It is always important to understand the difference between macro analysis and micro. Never mix the two.
Remember I am a MACRO guy.