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BNO - U.S. Oil Demand Surges To Record High This Bodes Well For Our 2022 Call
United States Brent Oil Fund LP ETV
EIA pegs US oil demand on a weekly basis at record highs.
This occurred despite jet fuel demand still meaningfully lower.
Given the assumption by OPEC and IEA that OECD demand in 2022 will not return back to 2019, the market appears to be underweighting demand surprising to the upside.