Oil Cycle: We are on a path to an Oil Shortage - Jan 14

[dan_s]

OilPrice.com The pandemic could lead to a major oil supply crunch
"It may be counterintuitive to say that the oil demand crash and the resulting glut in 2020 could lead to an oil supply crunch in just a few years. Yet, a growing number of experts and international agencies warn that the world could be headed for an oil shortage when oil demand finally recovers from the COVID-inflicted crisis in late 2022 or 2023. Last year, the pandemic slashed global oil demand, which is not expected to return to pre-crisis levels for at least another year and a half."

It appears that the Covid vaccines are working and that within six months every American that wants the vaccine will be able to get it. All pandemics end and so do all oil supply/demand cycles. This oil cycle is on a path to create a significant oil shortage within 12-18 months.

Above ground oil inventories are falling TODAY and the rate of decline will accelerate in a Post-Pandemic world. OECD oil inventories are expected to be back to 30 days of demand in Q3 2021. They will keep falling due to lack of investment. OPEC+ will be in almost total control of global oil prices. The last time OECD oil inventories fell below 28 days of supply, WTI was trading for $100/bbl.

Read: https://oilprice.com/Energy/Crude-Oil/T ... runch.html