The global oil price remains volatile on near-term concerns over the economy and rising interest rates, but the long-term fundamentals remain bullish.
This is highlighted by recent shipping data from China which shows some 125 tankers seen carrying crude to China as of late April. The tankers have the capacity capacity to deliver 250 million barrels of oil.
As we have analyzed on The Oregon Group, oil prices in the short-term will be volatile, but in the long-term, falling investment in supply and rising demand from countries like China means oil is back. You can read our analysis here: