IEA warns on plummeting oil stocks

The IEA expects that oil demand could peak by the end of this decade.

I must have read the same sentence nearly every few years since I was about 10 year old. Offer will always adapt to demand.

If countries like China, India, etc. purchased ALL their oil from non-sanctioned sources (NOT Russia), price of oil today would be WELL NORTH of $100/barrel today!

Seems Russia's selling tons of discounted oil and avoiding sanctions, keeping a lid on oil prices and growth in global oil production. China's consumption the big wildcard.

OPEC will always flex its oil supply with demand to keep prices favorable, and keep storage costs low.