IEA was set up to track supply and demand I believe post the 1973 oil embargo . Supply is easily tracked but demand for emerging markets is guess work on their part . What they are miscalculating in my opinion is demand which is growing much faster than their projections.
On supply Russian supply is down over 2 million bbls/day pre Covid .
Not to mention the politics of keeping oil prices lower thru the narrative they keep expousing.
That is great color, and comforting for investing in near/mid term crude projects. Thanks for sacrificing for the good of the group, and good luck with the tourney.
DSO at Pier 17! Love it! 💀
Thanks as always for the high quality analysis!
thank you Nat!
IEA was set up to track supply and demand I believe post the 1973 oil embargo . Supply is easily tracked but demand for emerging markets is guess work on their part . What they are miscalculating in my opinion is demand which is growing much faster than their projections.
On supply Russian supply is down over 2 million bbls/day pre Covid .
Not to mention the politics of keeping oil prices lower thru the narrative they keep expousing.
I trust opec must more than the IEA
That is great color, and comforting for investing in near/mid term crude projects. Thanks for sacrificing for the good of the group, and good luck with the tourney.
Thank you NTX!