{"id":44375,"date":"2019-03-10T11:25:15","date_gmt":"2019-03-10T16:25:15","guid":{"rendered":"https:\/\/olduvai.ca\/?p=44375"},"modified":"2019-03-10T11:25:18","modified_gmt":"2019-03-10T16:25:18","slug":"oil-market-about-to-enter-supply-deficit","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=44375","title":{"rendered":"Oil Market About To Enter Supply Deficit"},"content":{"rendered":"\n

Oil Market About To Enter Supply Deficit<\/a><\/h3>\n\n\n\n
\"Refinery<\/figure>\n\n\n\n

In the latest edition of the Numbers Report, we\u2019ll take a look at some of the most interesting figures put out this week in the energy and metals sectors. Each week we\u2019ll dig into some data and provide a bit of explanation on what drives the numbers.<\/p>\n\n\n\n

Let\u2019s take a look.<\/p>\n\n\n\n

1. Oil market entering supply deficit<\/strong><\/p>\n\n\n\n

\"\"\/<\/a><\/figure>\n\n\n\n

\u2022 The OPEC+ cuts have likely already tipped the oil market into a supply deficit, according to Barclays.
\u2022 OECD inventories fell dramatically over the past two years, and came back to the five-year average in 2018, where they have mostly remained. 
\u2022 The OPEC+ cuts quickly headed off a renewed surplus, and will likely drain inventories over the course of this year. Inventories are set to fall below the five-year average.
\u2022 Still, Barclays says the market return to balance or even a small surplus in the second half of 2019.<\/p>\n\n\n\n

2. China\u2019s oil demand not collapsing<\/strong><\/p>\n\n\n\n

\"\"\/<\/a><\/figure>\n\n\n\n

\u2022 Some of the more catastrophic oil forecasts for 2019 centered on a sharp slowdown in Chinese demand. 
\u2022 China\u2019s car sales actually contracted year-on-year over the last few months, and car sales could continue to fall this year. 
\u2022 But China\u2019s demand, while slowing relative to years past, is still expected to grow by 0.5 mb\/d in 2019, according to Barclays, the same rate of expansion as 2018.
\u2022 Next year, however, China\u2019s demand growth could slow a bit more, dipping below 0.4 mb\/d, continuing a gradual deceleration in demand growth.<\/p>\n\n\n\n

3. Cobalt oversupplied, but in high demand<\/strong><\/p>\n\n\n\n

\"\"\/<\/a><\/figure>\n\n\n\n

\u2022 Kobold Metals, a startup backed by Bill Gates and Jeff Bezos, is hoping to build a \u201cGoogle Maps for the earth\u2019s crust,\u201d according to\u00a0Bloomberg<\/a>.
\u2022 The company is building a database of geological data on cobalt, a metal that is often overlooked but is increasingly important to batteries in electric vehicles and the broader shift towards clean energy.
<\/p>\n\n\n\n

 \u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

Oil Market About To Enter Supply Deficit In the latest edition of the Numbers Report, we\u2019ll take a look at some of the most interesting figures put out this week in the energy and metals sectors. Each week we\u2019ll dig into some data and provide a bit of explanation on what drives the numbers. Let\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[589,24001],"class_list":["post-44375","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-oil-demand","tag-oil-supply-deficit"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/44375","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=44375"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/44375\/revisions"}],"predecessor-version":[{"id":44376,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/44375\/revisions\/44376"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}