This recent essay by Art Berman may be the best historical analysis of oil and its relationship with the economy I’ve read. https://www.artberman.com/2020/09/03/stop-expecting-oil-and-the-economy-to-recover/ Here is my simplified summary of Berman’s analysis: both supply and demand for oil have recently fallen oil demand has fallen more than oil supply this despite an all-time record amount of … Continue reading By Art Berman: Stop Expecting Oil and the Economy to Recover