This report was published in Oil Industry News on Monday, 17 April 2017. The headline needs no changing for me.
Although there is a current surplus in supply, the surplus is reducing and will begin to fall behind the demand in coming years. I’ve already written confidently about this in:
Demand is expected to begin to grow significantly in 2018 and 2019 with further strong growth in the years ahead. According to the report, peak demand is not in sight. The massive growth in car ownership in India and China, still petrol-based but more efficient, will play a large part in this.
The market-depressing effect of US shale production will not last due to sand shortages and, even in the near future will not supply the massive growth in the Asian market. Again I’ve already written about this at:
This further strengthens the case I made for optimism in Scotland’s post-independence energy economy and a Yes vote, recently, at: