Money Week referenced a recent Commodity Fundamentals Report by our analyst Bradley Waddington in their article on the oil market.
"Analyst Longview Economics is almost a lone voice arguing that “the coming oil glut” will drive prices down again. “If oil prices remain at current levels, there will be a significant supply response over the coming 12 to 18 months which will generate a global supply surplus/rising oil inventories in 2023.”
Demand, Longview expects, will continue to grow by 4.1 million and 3.8 million barrels per day (bpd) in 2022-2023. This growth assumption, on top of 2021 demand (similar to 2019) of 100 million bpd, may even prove to be on the high side, as it assumes no effect on demand from higher prices."
Read the full article HERE