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[littlejohn]

Opec countries as a whole have about

1 million bbls per day less to

export in summer months due

to summer cooling demand...

Saudi Arabia will have a demand increase

of 300,000 bbls per day or more

in the summer to reduce exports available...

Saudi Arabia must be going to do some

over due maintenance to justify the

big production cut...

Or they cut have just said they would

cut exports and pack some extra oil

production into reserves...

All of the positioning is unneeded...

Demand in 2023 is above the peak

supply available in 2022, so that

could lead to a problem...

Higher pump prices triggered when

Brent hits $85/bbl. to $90/bbl.

will lower demand as always...

Blue sky for demand to keep rising

at current prices...which doesn't boost

sentiment to shift to electric...


So we watch...LJ