And while on the topic of government ineptitude, the following graph suggests that maybe it is time to announce a further 100 mn bbls release of oil from strategic reserves because the impact of the last announcement of 260 mn bbls of reserve release is starting to wear off:
(And that's with some 30% of China's GDP effectively under Covid-related lockdown; imagine when they open up and that pen-up demand comes to the fore...)
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And while on the topic of government ineptitude, the following...
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