Oil prices are set for a weekly loss amid lingering concerns surrounding future fuel demand. OPIS Global Head of Energy Analysis Tom Kloza joins Catalysts to discuss the next OPEC+ gathering and macro trends in the energy industry.
And while traders also look ahead to the OPEC Plus output policy meeting in June here to discuss this and more.Tom, great to have you here with us and, and thanks for joining the show first.What are you gonna be watching for most notably at this next OPEC Plus gathering? The structure of the market seems to indicate uh that there's a little bit too much oil and you know, it's been disappointing gasoline demand uh in the United States running about 1.5 or one point uh and three quarters percentage behind last year.
So I, I would submit that probably by August, we'll see stronger oil prices and gas, gasoline prices.There's a lot more crude coming on from Guyana, Brazil, Canada and the United States.How much lower Tom? If we do hit some of the targets that you're tracking, I think the consumer doing pretty well and gasoline doesn't really alter it too much.But, uh, you know, it's more mythical than real, this notion of a driving season that begins this week.That's where inflation is still rearing its ugly head.
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