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[PUBLIC] Can Trump Take Credit for Lower Oil Prices?
Despite his promises of cheap energy, the president’s aggressive foreign policy is preventing an oil market crash.
 • Rory Johnston
Oil Context Weekly (W8)
Crude prices rallied on the mounting prospect of US military engagement with Iran, but the near-dated timespreads are showing weakness, likely as Iran…
 • Rory Johnston
Global Oil Data Deck (February 2026)
The oil market supply surplus shrank in December for the first time in 6 months, closing out the most oversupplied year since COVID-battered 2020 with…
 • Rory Johnston
Oil Context Weekly (W7)
Crude prices rise on Hormuz advisory before falling back on the prospect of longer US-Iran talks, with headlines dotted with a flurry of US sanctions…
 • Rory Johnston
OPEC+ Data Deck (February 2026)
Official OPEC+ quota-bound production fell again in January given more bad luck in Kazakhstan, though, even with this decline, a mountain of Kazakh…
 • Rory Johnston
North American Oil Data Deck (February 2026)
Continental petroleum output hits fresh high-water mark with Canadian supply reaching all-time highs amidst a bounceback in oilsands activity…
 • Rory Johnston
Oil Context Weekly (W6)
Crude prices fell back sharply from last week’s Iran-related rally before recovering roughly half those losses; meanwhile, pressure continues to mount…
 • Rory Johnston

January 2026

Oil Context Weekly (W5)
Crude prices rocket to their highest level since last July on the combination of still-heightened Iran risk and the background energy of frothy…
 • Rory Johnston
Barreling Ahead: Realizing—or Denying?—The Glut
The oil market in 2025 ended up much looser than anyone expected and expectations for 2026 balances are beginning to tighten after nearly a year of…
 • Rory Johnston
Oil Context Weekly (W4)
Crude prices rallied on a cornucopia of both realized and feared hits to global supplies: from further losses of already-wounded Kazakh supply to an…
 • Rory Johnston
Global Oil Data Deck (January 2026)
Market balances continued loosening and inventories swelled; supply growth is outpacing demand gains by more than 3x but demand is still outperforming…
 • Rory Johnston
Oil Context Weekly (W3)
Crude prices rise and fall on Iran risk amidst heavy speculative flows and options skew, while throttled activity at the CPC marine terminal is keeping…
 • Rory Johnston
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