OXY CEO: "Oil Supply Shortage in Two Years"

[dan_s]

https://oilprice.com/Energy/Crude-Oil/Occidentals-CEO-Sees-Oil-Supply-Crunch-from-2025.html

The current paradigm is that U.S. shale oil production can keep growing forever. Art Berman and Adam Rozencwajg forecast that the Permian Basin is very close to peak production and all other U.S. oil basins are on terminal decline already.

We all know that Peak Oil Demand is a False Paradigm. EVs are not going to have a significant impact on global oil demand.

Even if Trump gets elected and we go back to "Drill Baby Drill", this world could see a significant energy crisis in this decade.

[dan_s]

From OPEC's monthly report.
The cartel's oil demand forecast shows increases of 2.2 million bpd in 2024 and another 1.8 million bpd in 2025.

Read more > https://oilprice.com/Latest-Energy-News/World-News/OPEC-Sees-Strong-Oil-Demand-Growth-in-2025.html