Oil Bull Markets Past & Present, and Yellow Jackets

Complete the form on this page to download our Q4 2018 commentary. 


Twenty years ago, oil prices bottomed in January of 1999. Actions by OPEC led prices to rebound before the events of 9/11 caused a major, albeit temporary, pullback in 2001. The rampant bearishness that followed, combined with misunderstandings in future supply and demand, then set the stage for a six-year surge in oil prices. 

Significant pullbacks in developing bull markets are nothing new, as we illustrate in our most-recent commentary. The real question is: what is driving fundamentals behind the scenes? For reasons we explore in detail, our long-term bullish outlook on global oil markets remains intact and we believe the pullback in oil-related investments has presented investors with an excellent buying opportunity. 

Read Goehring & Rozencwajg’s commentary to learn:

  • How we conduct our in-house research and develop alternative views on energy supply/demand dynamics
  • What similarities today’s market shares with 2001
  • What will drive markets in precious metals going forward

Please fill out the form on the right to download a copy of our Q4 2018 market commentary.