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Predicting the next global oil shock when the world is awash in supply
Predicting the next global oil shock when the world is awash in supply
ratings:
Length:
20 minutes
Released:
Aug 17, 2020
Format:
Podcast episode
Description
Global oil supply far exceeds demand right now as the coronavirus pandemic keeps travel restrictions in place and commuters working from home. Commodities analysts Leigh Goehring and Adam Rozencwajg, managing partners of Goehring and Rozencwajg, argue that the pandemic and current oil market conditions will be a catalyst for a coming global energy crisis. They think we're not far from a global oil shortage because of the lack of investment happening today and the rapid depletion of the best US shale resources. While some analysts expect shale production to keep global oil markets in a perpetual surplus, Goehring and Rozencwajg argue that the age of shale has largely passed. They project US oil production to fall by as much as 2 million b/d in the second half of 2020 and by as much as 1.5 million b/d in 2021. They see global demand rebounding steadily, which will lead to a spike in prices and an eventual drilling boom five years or so down the road.
Released:
Aug 17, 2020
Format:
Podcast episode
Titles in the series (100)
What can the US crude oil industry learn from Pabst Blue Ribbon?: On this week’s Capitol Crude, Platts senior editors Brian Scheid and Herman Wang compare the ongoing campaign to allow exports of US crude oil to some of the most successful beer marketing campaigns. Despite a glut of US crude and domestic refining cons by Capitol Crude: The US Energy Policy Podcast