Julian Lee discusses the removal of Saudi oil minister, al-Falih, here… And, he includes a nice chart showing declining oil demand growth estimates by the EIA:
“Oil demand growth is weakening, while U.S. production from the country’s vast shale deposits shows little sign of running out of steam. U.S. output hit a record 12.5 million barrels a day in weekly data last month, and new export pipelines and terminals expected in the coming months have the U.S. Department of Energy forecasting an output level of more than 13.5 million barrels a day by the end of next year.”
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