Oil Prices Living in A World of 85%-90% Demand: Cornerstone Macro's Stuart

The video discusses the current state of oil demand and its impact on prices, highlighting that demand has not fully recovered to pre-pandemic levels. It examines OPEC's efforts to manage supply and the challenges faced by refiners due to shifts in demand for middle distillates like jet fuel and diesel. The video also explores the economic difficulties refiners face as they adjust their processes to cope with these changes.

What impact does the collapse of jet fuel demand have on the refining industry?

Explain the significance of the middle distillates in the refining process.

What strategies might refiners employ to cope with the current market conditions?