Demand for gasoil, the basic fuel which runs the entire modern world, is actually declining. Having stumbled over the summer, this exceptionally rare development is another really negative sign to go with, relatedly, even more production and job cuts across the auto industry. Energy, autos, economy.
Eurodollar University's Money & Macro Analysis
Bloomberg Diesel Set For Growing Glut as Demand Falters
https://www.bloomberg.com/news/articles/2024-11-05/diesel-set-for-growing-glut-as-demand-falters
World Bank Commodity Markets Outlook
https://openknowledge.worldbank.org/server/api/core/bitstreams/bbda9ad3-4f12-4626-ad4b-94a4d20fbd52/content
Bloomberg OPEC Cuts Global Oil Demand Growth Forecasts for Third Consecutive Month
https://www.bloomberg.com/news/articles/2024-10-14/opec-cuts-global-oil-demand-growth-forecasts-for-third-consecutive-month
OPEC June 2
https://www.opec.org/opec_web/en/press_room/7339.htm
OPEC Sept 5
https://www.opec.org/opec_web/en/press_room/7369.htm
OPEC Nov 3
https://www.opec.org/opec_web/en/press_room/7409.htm
Bloomberg Even Some High-Income Americans Can’t Afford New Cars Anymore
https://www.bloomberg.com/news/articles/2024-11-04/soaring-2024-new-car-prices-turn-more-buyers-toward-used-vehicles
Nikkei Nissan cutting production of main U.S. models by 30%
https://asia.nikkei.com/Business/Automobiles/Nissan-cutting-production-of-main-U.S.-models-by-30
Guru Focus Nissan Cuts Production Amid Declining U.S. Demand, Threatening Global Sales Goals
https://www.gurufocus.com/news/2582356/nissan-cuts-production-amid-declining-us-demand-threatening-global-sales-goals
EuroNews Thousands of jobs to go at German car parts maker Schaeffler
https://www.euronews.com/business/2024/11/05/thousands-of-jobs-to-go-at-german-car-parts-maker-schaeffler
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU
What is Eurodollar University?
Jeff Snider will guide you through the realm of monetary science. Multiple episodes uploaded each week, discussing big news and key current events, the state of markets and what they are telling you, as well as historical summaries and deep background material so that you can understand what’s really going on in this eurodollar’s world.