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The Billion Barrel Cost of a Longer Iran War
The total volume of unproduced Gulf barrels is set to rise above one billion barrels over full shock duration; lost production in April alone will…
Apr 2
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Rory Johnston
53
1
2
[FREE] From Glutted to Gutted
Are We Approaching an Unprecedented Energy Crisis? Attempts to reroute or offset Iranian-throttled oil continue to fall short.
Mar 28
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Rory Johnston
64
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3
Context Call: March 2026
The staggering barrel math behind the Iran War and the Strait of Hormuz stoppage, an overview of market impacts, likely future trajectories of the…
Mar 27
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Rory Johnston
17
1:03:57
No End in Sight
The Trump administration continues to press its point in the Iran war and, despite some initial signs of wavering earlier this week, there are not yet…
Mar 12
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Rory Johnston
36
Strait to the Point on Iran
War has begun in the Gulf, and the oil market is staring down the mother of all tail risk scenarios.
Mar 2
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Rory Johnston
39
Making Room for Venezuela
Assessing US Gulf Coast refinery appetite for Venezuelan barrels amidst an erosion of regional heavy crude oil consumption
Feb 27
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Rory Johnston
27
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…
Jan 28
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Rory Johnston
30
2
Can Trump Really Revive Venezuela’s Oil Industry?
What Maduro’s capture and Trump’s declaration that Washington is now “in control” of the country’s vast crude resources mean for oil markets over the…
Jan 5
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Rory Johnston
25
1
Waiting for the Glut: Oil Market 2025, Wrapped
The year was defined by the emergence—and avoidance—of the oil market’s largest glut since 2020, driven by an OPEC pivot and thus far absorbed by…
Dec 31, 2025
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Rory Johnston
39
Oil’s Off-Balance-Sheet Glut
Global petroleum stocks in 2025 have risen at their fastest pace since 2020, but the product mix, geography, and stage many of these barrels occupy in…
Dec 17, 2025
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Rory Johnston
20
1
[PUBLIC] Rethinking the Role of the Strategic Petroleum Reserve
Repost of our second contribution to Dispatch Energy on how the US can and should leverage the SPR more strategically in this era of American energy…
Nov 15, 2025
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Rory Johnston
19
1
Canada’s Zombie Pipeline
Like a zombie, Keystone XL just won’t die; the pipeline is simply too symbolically important to ‘rest in peace’, but even in theory it’s a mixed bag for…
Nov 3, 2025
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Rory Johnston
8
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