Energy Prospectus

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

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

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

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.

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