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OPEC+ Data Deck (June 2026)
Middle Eastern crude production inches higher as Gulf producers gained on incremental Hormuz Crisis logistical improvements; the Emiratis have left the…
16 hrs ago
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Rory Johnston
33
Oil & Iran War Context Weekly (W24)
Crude prices sank to the lowest weekly close since February on the back of a whiplash shift from missiles flying across the Gulf to what most parties…
Jun 12
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Rory Johnston
48
Oil & Iran War Context Weekly (W23)
Crude prices rose through Wednesday before pulling back to end the week only modestly higher; all’s quiet on the US-Iran negotiation front, and all eyes…
Jun 5
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Rory Johnston
43
1
Context Call: June 2026 (Video)
Updates to our tracking of transits through the Strait of Hormuz, the critical role of China in counterbalancing the loss of Middle Eastern exports, and…
Jun 4
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Rory Johnston
18
4
1:13:48
[FREE] A Beginner’s Guide to Reopening the Strait
Even if the Iran war ended today, rebuilding the Middle East’s energy shipping and production capacity could take months or even years.
Jun 4
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Rory Johnston
45
1
North American Oil Data Deck (June 2026)
Production growth stabilizes in the US and slows in Canada; US refinery yields shifted sharply in favour of globally-scarce jet fuel but at the expense…
Jun 3
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Rory Johnston
23
May 2026
Oil & Iran War Context Weekly (W22)
Crude prices crater on further—though, as always, unrealized—US-Iran deal optimism and close out largest monthly decline since 2020; more diplomacy…
May 29
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Rory Johnston
48
Global Oil Data Deck (May 2026)
The global liquids market flipped from protracted surpluses to the largest monthly average supply deficit on record in March, forcing the steepest ever…
May 27
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Rory Johnston
49
2
3
Oil & Iran War Context Weekly (W21)
Crude prices sink once more on renewed Iran War negotiation optimism, though major diplomatic hurdles remain and the oil market continues to hemorrhage…
May 22
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Rory Johnston
51
3
Chinese Demand Destruction or Strategic Supply?
Despite a ~40% collapse in Chinese crude imports, data point to massive Chinese market support in the form of heavy SPR releases (both crude and refined…
May 21
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Rory Johnston
87
3
8
Oil & Iran War Context Weekly (W20)
Crude prices rise back toward $110 and term structure firms again as US-Iran talks stall out and Trump’s trip to China fails to yield any meaningful…
May 15
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Rory Johnston
46
1
OPEC+ Data Deck (May 2026)
Crude output slips further to fresh 35-year low for OPEC as the full impact of Hormuz-necessitated wellhead shut-ins hit the tape, and the UAE departs…
May 13
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Rory Johnston
39
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