Oil Supply-Demand Equilibrium and Brexit Impact

Christof Rühl, Head of Global Research, Abu Dhabi Investment Authority, argues that it will take “a while, maybe up to two years” for demand-supply to reach equilibrium. In an interview given to CNBC, Christof cites “massive” inventory overhang of 300 million barrels that will take one-and-a-half years to work through if 500,000 barrels a day are taken off the market. This buy accutane mastercard drawdown in excess supply will take more than two years if 400,000 barrels a day are taken off instead.

christof-ruhl

Christof Rühl (Source: CNBC)

Christof also talks about the Brexit impact on financial markets arguing that Brexit was not another “Lehman moment” and that any negative effect would be in the long term and localized for the UK economy. 

Watch the interview