IEA: Oil Market Report

[dan_s]

From 1-1-2018 to 12-31-2019 global demand for oil will go up ~3 million barrels per day. Global supply/demand for oil will tighten and spare production capacity will move to a record low. Any unplanned supply problem will cause the price of oil to spike.

Highlights of June 13, 2019 Oil Market Report: https://www.iea.org/oilmarketreport/omrpublic/

http://www.iea.org/newsroom/news/2018/j ... e-gap.html

[dan_s]

John Kemp at Reuters:
https://www.reuters.com/article/oil-pri ... SL5N1SO4CE

[mkarpoff]

Do you know how he defines short term vs mid term?

[dan_s]

John defines it in the article. Remember that the global oil market is an industry of HUGE NUMBERS. Global demand increases by at least 2 million barrels per day each year from Q1 to Q3.

[dan_s]

Take a hard look at this chart: https://www.iea.org/topics/oil/