IEA Warns On Gas Crisis, Saudis Say Everyone Needs An OPEC

IEA Warns On Gas Crisis, Saudis Say Everyone Needs An OPEC

The October vintage of the IEA's oil market report grabbed headlines Thursday as the world's energy crisis continued to dominate the macro narrative. Mercifully, the agency's reports are amenable to summary treatment, which sets them apart from other expansive takes on the market, which tend to be somewhat daunting to the extent you can't easily extract key points. Gas-to-oil switching could add 500,000 barrels per day to oil demand over the next six months versus "normal conditions," the repo
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2 thoughts on “IEA Warns On Gas Crisis, Saudis Say Everyone Needs An OPEC

  1. Somehow the context of oil usage gets lost on the media. This year the global demand for oil is just under 100 million b/d so a 500k increase is just around a half of one percent. Big fat hairy deal. In a normal market a change of that magnitude would have essentially no effect on price. I hate it when pundits and the media publish data like this in “scare quotes” without adding the actual context. Even the good press is bad these days.

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