The Very Real Possibility Of $30 Oil

Market Movers (JULI) - Nothing should depress oil markets more this week than Goldman Sachs’ cutting its 2020 global oil demand growth forecast – again - to -150,000 bpd, when it had previously forecast growth of 0.55 million bpd, and before that, 1.1 million bpd. So, for the first time, we’re in negative territory, and it’s not just Goldman. IHS Markit also said this week that oil demand will likely be lower than in 2019 - even if H2 2020 sees a recovery. IHS is forecasting global oil demand at 3.8 million bpd lower than…