Part 7/12:
Contrary to narratives linking falling oil prices to economic weakness, Wirth asserts that demand remains robust. He cites record-high global oil consumption and anticipates rising figures for 2025 and beyond. The recent price decline results from increased supply, partly due to OPEC+ nations reversing supply restrictions. This supply-driven dynamic does not indicate waning global demand but underscores the complex balance of the market—a cycle that will likely adjust as supply stabilizes.