/biz/ - Business & Finance

>>19137345

Do you have full text? Here's a conflicting article.

https://www.bloomberg.com/news/articles/2020-05-14/saudi-oil-rush-threatens-to-disrupt-stabilizing-u-s-oil-market

>>19114837

You're deliberately misunderstanding my point, and the data I've provided shows consumer behavior has not returned to normal 1 month after the fact, and hence shows why American oil consumption will not return to normal within the required timeframe to escape contango, taken in account with Cushing being filled, and massive amounts of oil still being produced and shipped.

Wayback doesn't work on live data, and TomTom only goes back 7 days with comparisons to average from 2019.
So That's all our data for this argument, and we have to work with what we have, unless you can point me to data showing the contrary, it proves my point, that is, gasoline usage has not returned to anywhere near normal levels yet, despite China being released from lockdown first, and hence we can rightly assume America's traffic will not return to normal yet, after just starting to end lockdowns. Remember, China MANDATED lockdowns end for economic reasons, America is currently WFH and are only partially ending lockdowns = far less consumption, EVEN IF we've locked down and released at the same times China has.

To summarise these points then,

>Tom Tom data shows traffic down massively after lockdown ends

>No traffic on days off compared to 2019, no traffic between commute hours

>Suggests acceleration of gasoline consumption is only slowly increasing, consumer
behavior has yet to return to normal

>Hence this and next months oil consumption will be lower than bull case of return to normal

>America's release is only partial, China's release is mandated, suggesting Chinese data is liberally skewed. America currently WFH as well

> Return to normal consumption will happen, but far slower than bulls expect.

>More than enough reason for oil to blow up in our face

If we can't agree my first point, we'll let readers decide, feel free to summarise your own points. let's move on. Where's the rest of your data? My turn to critique.

>>19114801