It amazed me that I had never heard of I believe the market has over-reacted due to perceptions of falling demand.
Yes, there will be a recession and yes it will decrease the demand for oil. But causing it to drop like it has is ridiculous. People will still drive their cars no matter what. Before.
For me, it was Whenever a bubble bursts, it tends to overshoot.
Just like dot com companies were overvalued and then undervalued, so has crude oil. That really helped me to make sense of it all.
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