Could we actually go from a "glut" to a "shortage" of oil? Yes, because it only take a few "unplanned" supply problems to cause one and we get lots of oil from countries that run by idiots.
Read: https://oilprice.com/Energy/Energy-Gene ... -2018.html
Supply and Demand for oil are now MUCH TIGHTER than they were just six months ago when WTI was selling for $42/bbl. If you think S/D is tight today, wait three months. In 2017, demand for oil increased by 2.3 million barrels per day from Q1 to Q2 and kept going up in Q3. The same thing will happen this year because demand for oil is seasonal.
Oil Shortage this year!
Oil Shortage this year!
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group