August 28th, 2020
In this video transcript, the speaker discusses various topics related to the energy industry. The key points covered include:
1. The drop in storage numbers and the importance of looking at the four-week rolling average.
2. The slowing demand for energy, including the downgrading of the US by Fitch and China's lack of stimulus support.
3. The impact of back-to-school season on energy demand.
4. The comparison of refined product exports versus crude exports, highlighting the increase in Russia's product exports.
5. The need to consider the holistic nature of the crude markets and global oil and product stocks.
6. The potential reduction of crude production by Saudi Arabia and the implications for the crude market.
7. The economic factors affecting the energy industry, such as the value of the yen, the 10-year treasury yield, and the downgrade of the US.
8. The discrepancy between market expectations and actual data on gasoline demand and stockpiles.
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