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V1EQ

Bottom For oil was May 2023.

Long
Light Crude Oil Futures (NYMEX:CL1!)  
V1EQ  
NYMEX:CL1!   Light Crude Oil Futures
Fundamental Analysis Earnings Oil Crude Oil WTI Crude Oil Crude Oil Futures WTI (CL1!) Energy Commodities bestidea highprobability highreturn
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Oil prices are prepared for strong growth to the upside. CL1! made its bottom in May of 2023.


Three reasons for this case to be made.


  • Russia cutting OPEC+ production by 500,000. The original balance from OEPC+ was 450,000 barrels of surplus. No Suprise that they cut it by exactly 500,000.

  • U.S. Now focused on SPR replenishing as opposed to releases.

  • Strong GDP solidifies no recession, and high employment solidifies strength in the consumer.
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