About Commodity Context

Data-centric, visualization-forward oil market research
Thematic deep-dives, monthly data reports, and a weekly market wrap-up every Friday

Join the more than 20,000 free subscribers receiving my market analysis directly to their inbox or upgrade to a paid subscription to access Commodity Context’s full research service and community, which includes many world’s largest financial, oil industry, and policymaking organizations.

Who is Rory Johnston?

Rory Johnston is a Toronto-based oil market researcher, the founder of Commodity Context, a lecturer at the University of Toronto’s Munk School of Global Affairs and Public Policy, as well as a Fellow with both the Canadian Global Affairs Institute and the Payne Institute for Public Policy at the Colorado School of Mines.

He is a leading voice on oil market analysis, advising institutional investors, global policy makers, and corporate decision makers. His views are regularly quoted in major international media including the Financial Times, New York Times, Wall Street Journal, Bloomberg News, Reuters, BNN Bloomberg, CBC, and Financial Post, and he frequently appears on numerous market and industry podcasts (e.g., Bloomberg’s Odd Lots, Hidden Forces, etc.).

Prior to founding Commodity Context, Rory led commodity economics research at Scotiabank where he set the bank’s energy and metals price forecasts, advised the bank’s executives and clients, and sat on the bank’s senior credit committee for commodity-exposed sectors. 

Follow Rory on Twitter where he posts about ongoing work and the broader market in real time.

What Can Subscribers Expect?

Commodity Context is a data-centric and visualization-forward oil market research service looking at supply, demand, pricing, and everything in between. Readers can expect a mix of real-time event analysis, data reviews, and deeper thematic research, as well as the Oil Context Weekly market report every Friday between 4-5pm ET.

  • Oil Context Weekly: A summary delivered between 4-5pm ET Friday covering developments in flat crude prices, calendar spreads and the curve, high-frequency inventory data, refined product dynamics, and investor positioning as well provide a taste of the themes I’m thinking about or following closely that week.

  • Data Decks (x3): monthly data-dense and visualization-heavy reports on the (1) global oil market, (2) North American oil & gas industry, and (3) OPEC+ production tracking, each of which grow alongside my thematic research.

  • Thematic Research: typically 1,500-2,000 word posts with 3-6 visual exhibits covering a wide array of oil and gas market themes.

  • Quick Context: shorter, event-driven analysis that builds off previous research to promptly contextualize major market developments.

Price: $75 per month or $750 per year. 

How Is My Research Unique?

It is even-handed. No agenda, just data. Digging into the fundamentals behind the headlines so that you can discern between the signal and the noise. 

It is fundamentals focused. Sober analysis of the physical and paper market realities that drive the price formation of crude oil and refined petroleum products. 

It is deep and data-driven. Comprehensive context underlying key events and trends, not superficial soundbites.

It is a growing database. The research approach is cumulative by design and each thematic post adds to the growing backend that is then regularly tracked and visualized in my monthly Data Decks and even more frequently commented on in Oil Context Weekly (every Friday 4-5pm ET).

Additional Services

Rory loves to engage with fellow market enthusiasts and policy wonks to candidly discuss oil and gas market fundamentals and data-driven outlooks. He can provide the context for your next meeting, publication, or client engagement. 

Example Services

  • Keynote Speaker

  • Expert Advisory

  • Corporate Presentations

  • Model Walkthroughs

  • Bespoke Research

Contact rory@commoditycontext.com directly to discuss your specific needs.

Subscribe to Commodity Context

Data-centric, visualization-forward oil market research | Thematic deep-dives, monthly data reports, and a weekly market wrap-up every Friday


Data-first, visualization-forward commodity market researcher specializing in the oil & gas industry.