According to the latest data from the Energy Intelligence Group, global demand for crude has risen 1.59% over the last 12 months to 83.2 million barrels/day. However, global supply has risen 4.17% to 84.9 million barrels/day. The price of a barrel of crude is up over 60% during this same period of time. Nobody talks about oil bubble. Why? It is because the bulls are long up to their eyeballs in energy-related stocks and the bears want oil to go to the moon to crash stocks and the economy. Morgan Stanley's Chief Economist in Asia made a call last week for an oil collapse and it got little attention. Goldman's $105 call was reported incessantly for weeks. If you have good stamina, shorting oil at this point could be very profitable. I expect oil to be in low 40s/ high 30s by the end of the year. Mind you, am not saying that long term oil is not bullish. They will probably hit 100$+ in the next several years. Itâs just not now. Slight decline in the Chinese oil imports could trigger brutal sell off.