- Lowers production forecast from Russia by 1 mil bpd
- Lowers supply forecast from Russia by 1 mil bpd
- Global demand forecast also lowered, but only by 0.6 mil bpd
I shared my bullish views on oil earlier in the week here. As mentioned then, barring any major demand destruction, tighter inventories for the most part is something that should continue to underpin prices in general in the months ahead.
