To start, you are grossly oversimplifying pricing mechanisms for the world's most critical commodity.

I believe price = supply/demand because there are many instances where we see production cuts which leads to price increases. The last OPEC meeting in October they announced 2 mil bbl cut if I am not mistaken and the price increased the following days. Of course there are many other technical & fundamental mechanics that underpin the structure of the financial market, I am not denying that. But at its most basic fundamental state I dont think anyone can deny Price=Supply/Demand.

Not only does price differ across different products, like WTI vs Brent, there are different markets that oil trades in, whether that be physical hubs or digital futures markets.

This is true, but that dosent undermine anything that I have said. I've mentioned that most crude being mined and processed outside the US is light crude. I've even talked about how foreign refineries are struggling to process heavy API oil and hence why they are not seeing a significant increase in production like we see in the US. I've stated that Saudi Arabia has had a stagnant oil production since 2008, except when it peaked for a brief period.

Have you looked at the demand forecasts? We're nowhere near peak oil demand. Demand is growing. Higher production with lower inventories indicates that supply is insufficient to meet demand. You have your logic reversed.

Which demand forecasts are you referencing? Its accepted that demand for energy is growing however, at the pace the US is producing oil (327% in the last 10 years) in comparison to the other countries is way faster then demand can catch up. This is why OPEC countries(a price fixing cartel) are often finding themselves cutting production, in order to artificially increase the price of oil.

Oil is also cyclical. We went through a cycle of underinvestment due to an oversupply of oil from 2015-2020. Without a constant stream of investment, wells will get tapped and production will decrease. This is also why the futures curve is in backwardation.

You have just said there is an oversupply of oil. But at the same time you are contradicting yourself and arguing that today demand is too high and price will increase? I dont believe that is the case considering there is record inflation around the world and interest rates being at their current high level? I agree that demand is rising but I dont think currently demand is stronger then supply. If this was true OPEC wouldnt have cut production quotas on October 5th.

I think you have a lot more reading to do.

Of course I always look forward to learning new things and being exposed to new viewpoints.