Global Oil Demand Remains Robust Despite Bearish Sentiment

Last week, crude oil futures settled at their highest levels in more than two months while energy stocks scored their best week since March 2023 thanks to a cornucopia of catalysts including escalating tensions in the Middle East, a Ukraine drone attack on a Russian oil refinery, production glitches in the U.S., inventory  drawdowns that were much larger than forecast, stronger than expected Q4 GDP growth in the U.S amid declining inflation and increased prospect of more economic stimulus from China. With so much support,…