- The gains in energy stocks and oil might be eye opening to many. A question needs to still be asked" "Where's the future growth coming from?"
- Rystad Energy along with many others including our models, show that US oil production will peak in 2023/2024.
- Outside of OPEC's core members, Saudi Arabia, UAE, and Kuwait, there's no spare capacity (with the exception of Iran).
- Think of it in another way. If it wasn't for the Permian back in 2016, we would already be deep into an oil supply crisis. We need another Permian, and that's unlikely.
- Without demand destruction, this oil supply deficit is going to be hard to control, and with it, oil prices will remain high for years to come.
For further details see:
Think Long Term: Where's The Oil Supply Going To Come From?