Keep it Simple - It's All About Energy
Queen Anne's Gate Capital
Thu 17 Feb 2022 - 15:00
Topics
QAG Capital continues to have a differentiated view on oil markets - 2022 is another year of drawing inventories due to very strong demand. Globally there is a molecule shortage that is structural.
2023 balances will see inventory builds, but longer term the oil market will draw again.
The forward curve needs to adjust, and that adjustment has massive implications for other commodities
There is no super-cycle however, and high prices will cure high prices in some commodities markets which have high demand elasticity.
