---
title: 2Q 2018 Goehring & Rozencwajg Commentary
description: Learn why Leigh Goehring and Adam Rozencwajg have a contrarian view on the supply / demand of oil as well as general market commentary on commodities.
---

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# "Beware the Collapse in Non-OPEC Oil Supply"

##### *Complete the form on this page to download our Q2 2018 commentary. *

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Many investors consider the drop in non-OPEC conventional production to be a non-material event given the surge in US shale oil production; however, at G&R Associates, our analysis leads us to believe investors are completely underestimating the future impact of declining non-OPEC conventional production—production that still represents 45% of world supply.

In addition to providing our research and outlook on the various commodities markets, this quarter we share additional research spotlights on oil and gold. 

**Read Goehring & Rozencwajg’s commentary to learn:**

- Contrarian research on non-OPEC conventional production and US shale oil production
- Why investors should be ready for a bull market in gold
- Market insights on the potential impacts of trade wars

## *Please fill out the form on the right to download** a copy of our Q2 2018 market commentary.*

## *Download Your Copy*

Goehring & Rozencwajg Associates, LLC. The information provided on this website is intended to provide the investor with an introduction to Goehring & Rozencwajg Associates, LLC. Nothing on this website should be construed as a solicitation offer, or recommendation to buy or sell any security or as an offer to provide advisory services. Information on this website is intended only for United States citizens and residents. Nothing contained on this website constitutes investment, legal, tax, or other advice nor should be relied upon in making an investment or other decision. Investors should always obtain and read an up-to-date investment services description or prospectus before deciding whether to appoint an investment advisor or to invest in a fund.

This material may include estimates, outlooks, projections and other “forward-looking statements.” Due to a variety of factors, actual events or market behavior may differ significantly from any views expressed. Investing entails risks, including possible loss of principal. Investments concentrated in natural resources involve a higher degree of risk than more diversified strategies. Past performance is no guarantee of future results.

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