Energy Market Commentary – Is there a supply crunch for oil?

September 30, 2021

Josef Schachter, Founder and Editor of The Schachter Energy Report joins us to focus on the energy sector and continued run higher in oil. I have been hearing a lot of comments on the “supply crunch” in the oil sector that has continued to push prices higher. We have Josef comment on this using some of the recent data.

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    Sep 30, 2021 30:15 AM

    Surprise Crude Build Caps Oil Prices

    By Julianne Geiger – Sep 28, 2021

    “U.S. oil production had been down more than a million bpd over the last couple of weeks, but crude production ticked up for week ending September 17, to 10.6 million bpd—with more than 84% of Gulf of Mexico oil producers finally back online after Hurricane Ida made landfall at the end of August. ”

    “The API reported a build in gasoline inventories also, of 3.555 million barrels for the week ending September 24—compared to the previous week’s 432,000-barrel draw.

    “Adding to the across-the-board builds, distillate stocks saw a increase in inventories this week of 2.483 million barrels for the week, compared to last week’s 2.720-million-barrel decrease.”

    Sep 30, 2021 30:17 AM

    Energy Metals Send Up the BATT Signal

    by Sean Brodrick – September 30, 2021

    “Look at what’s needed for EVs and battery storage: copper, cobalt, nickel, lithium, rare earth elements and even aluminum.”

    “Do you want to do solar power? You’ll need lots of copper and aluminum. Wind power? Add rare earths and zinc to the list of must-have metals.”

    “Exactly how much is needed depends on demand. But in order to bring the world in line with the stated policy goals in the legally binding Paris Climate Accords — which include a 50% reduction in emissions by 2030 and a 90% reduction by 2050 — we’re going to need a lot.”

    Oct 01, 2021 01:21 AM

    God holds breath.
    Windmills wrong!!

      Oct 01, 2021 01:31 AM

      Krakatoa II

    Oct 04, 2021 04:07 PM

    This guy said back in January sell, oil going back down to test under $40 by spring, Wrong!!
    He been calling for oil to collapse for months only to see oil to go above $70, how much has those stocks he told subscribers to sell have just went up up up.
    I have lost faith in his calls.