Pangzi2,
Totally agree with you.
The oil industry is ultimately constrained by inventories capacity. At some point total oil inventories, between raw oil extraction to service stations, will reach maximum inventory capacity. Consequently, raw oil extraction will reduce, as will the oil price, to reflect supply equal demand equilibrium, this is a flow concept. But when the global economics kick start, inventory levels will decline relatively quickly, but there will be insufficient oil extraction to meet the end demand, as a result the oil price will increase significantly.
Bos
Ann: Operations Update, page-92
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