Demand for gasoil, the basic fuel which runs the entire modern world, is actually declining. Having stumbled over the summer, this exceptionally rare development is another really negative sign to go with, relatedly, even more production and job cuts across the auto industry. Energy, autos, economy. 

Eurodollar University's Money & Macro Analysis

Bloomberg Diesel Set For Growing Glut as Demand Falters
https://www.bloomberg.com/news/articles/2024-11-05/diesel-set-for-growing-glut-as-demand-falters

World Bank Commodity Markets Outlook
https://openknowledge.worldbank.org/server/api/core/bitstreams/bbda9ad3-4f12-4626-ad4b-94a4d20fbd52/content

Bloomberg OPEC Cuts Global Oil Demand Growth Forecasts for Third Consecutive Month
https://www.bloomberg.com/news/articles/2024-10-14/opec-cuts-global-oil-demand-growth-forecasts-for-third-consecutive-month

OPEC June 2
https://www.opec.org/opec_web/en/press_room/7339.htm

OPEC Sept 5
https://www.opec.org/opec_web/en/press_room/7369.htm

OPEC Nov 3
https://www.opec.org/opec_web/en/press_room/7409.htm

Bloomberg Even Some High-Income Americans Can’t Afford New Cars Anymore
https://www.bloomberg.com/news/articles/2024-11-04/soaring-2024-new-car-prices-turn-more-buyers-toward-used-vehicles

Nikkei Nissan cutting production of main U.S. models by 30%
https://asia.nikkei.com/Business/Automobiles/Nissan-cutting-production-of-main-U.S.-models-by-30

Guru Focus Nissan Cuts Production Amid Declining U.S. Demand, Threatening Global Sales Goals
https://www.gurufocus.com/news/2582356/nissan-cuts-production-amid-declining-us-demand-threatening-global-sales-goals

EuroNews Thousands of jobs to go at German car parts maker Schaeffler
https://www.euronews.com/business/2024/11/05/thousands-of-jobs-to-go-at-german-car-parts-maker-schaeffler

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