Energy crunch begins to ease

Monday, 18 October 2021

A crucial driver of the energy crunch underway across the northern hemisphere is low inventories of coal, gas and oil. There are signs that this has begun to ease.

For oil, US stockpiles have turned the corner as post-hurricane supply booms back online:

We are also seeing an acceleration in the rig count as prices have begun to break supply discipline:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.