Josef Schachter: Imminent Gasoline Shortages, Tank Bottoms & ‘Much Higher’ Oil Prices for Longer
Stijn Schmitz welcomes Josef Schachter to the show. Josef Schachter is Founder, Schachter Asset Management Inc. Schachter clarifies that the current energy market tightness is not a crude oil shortage but a severe refining capacity problem, particularly impacting Asia. While US production has surged to 24 million barrels daily, allowing for exports, a lack of refined products in Asia has driven local prices to the equivalent of over $150 per barrel. He attributes the volatility to geopolitical tensions, noting that oil prices swung from the high $90s to $67 before rebounding into the mid-$80s…
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