The oil depletion balance sheet
Analysis in a flagship industry journal suggests the day demand for petroleum exceeds demand is not far off.
Every six months or so, a flagship oil industry trade journal, Petroleum Review, publishes an analysis of the oil industry's success rate in bringing new oil production to the market. The latest study appears in April's issue. Although you have to read between the lines to hear it, the whistle blows loud from the pages. The day that global demand for oil exceeds supply - the day when prices go through the roof and shockwaves reverberate through every market - does not seem to be far off.
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