Jeff Currie: Illusion of Oil Abundance Is Gone
Carlyle Group Chief Strategy Officer, Jeff Currie, has declared that the global oil market's "illusion of abundance" has vanished, warning that the market has rapidly transitioned from a standard supply deficit into a structural energy shortage. According to the former head of commodities research a
Source: OilPrice.com
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DW NOTE
Currie spent two decades at Goldman calling every energy shortage temporary and every supply scare overblown. Now that spare capacity has evaporated and OPEC can't pump its way out of a Hormuz blockade in its fifth month, abundance looks like the illusion. Oil hit $87.70 this morning — up 4.12% — while the U.S.-Iran ceasefire collapses and Russia grinds through 1,300 casualties a day to hold Ukrainian oil infrastructure hostage.