In an interview with CNBC, Josh Young stated that the recent drop in US oil usage and supply is not worrying. When juxtaposed with global figures, Young noted that US oil demand is not far behind, and oil prices will shoot right back up despite the current geopolitical events.
The Energy Information Administration (EIA) reported the US oil demand numbers, and the nuances between calculations and actual motorist consumption may have resulted in the low figures.
Josh Young is the CIO and co-founder of Bison Interests, a firm specializing in public energy assets. He is proficient in oil and gas investments and has written numerous articles about it.