Rule sees two bear cases for oil: (1) peace in Iran, Russia-Ukraine, and Venezuela, which would take 5-6 years for those nations to restore oil production and exports; (2) a synchronized global recession or depression that crashes demand despite structural supply deficit.
forecastpending
Speaker
Rick RuleEvidence Quote
“No, there's there's two bare cases. One I hope occurs actually, which is to say peace... The other thing that scares me is it's been a very long time, Charlotte, since we had a good thorough recession, never mind depression.”
Created: 8/13/2026, 10:19:24 AM
My Notes
Loading notes...