Leigh Goehring & Adam Rozencwajg

dan_s · Post by **dan_s** » Mon Jan 28, 2019 7:01 pm

Long interview, but worth the time: https://www.youtube.com/watch?v=M9xEFda ... ube.com%5D

You can skip the first ten minutes.

Most interesting points:
1. Supply: Non-OPEC & Non-U.S. oil production growth will be very disappointing because of lack of investment. IEA counting on 600,000 BOPD growth and it will not happen.
2. Demand: G&R thinks India will drive YOY demand growth much higher in 2019 than what IEA is saying (1.3 MMBOPD growth).
3. Permian: Oil production is going to grow for 3 to 5 more years, but not enough to keep up with global oil demand growth on its own.
4. They think the Eagle Ford and Bakken oil production has peaked because most of the Tier One leasehold has been drilled up.

The interview is long and some of the best stuff is in the Q&A session. At the 38 minute mark they talk about the Copper market, which I agree may have a lot of upside for us. India and EV growth is creating HUGE demand for copper.