Thursday, September 22, 2016 10:31:21 AM
I think demand has already surpassed the (reduced)supply.
Net imports YoY to date: +9.6% or +656kbpd
US Production YoY -6.0% or -560kbpd
Combined, this is 1.216MBPD 'better' than last year from a US perspective. Worst case, it's only close to the 'balance' point from a global perspective. Either way, I think we will be in a period of demand far exceeding supply within the next year.
Net imports YoY to date: +9.6% or +656kbpd
US Production YoY -6.0% or -560kbpd
Combined, this is 1.216MBPD 'better' than last year from a US perspective. Worst case, it's only close to the 'balance' point from a global perspective. Either way, I think we will be in a period of demand far exceeding supply within the next year.
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