---
title: Q2 2021 Goehring & Rozencwajg Commentary
description: Natural Resource Investors, Leigh Goehring and Adam Rozencwajg, discuss the factors driving oil prices higher.
image: https://info.gorozen.com/hubfs/Content%20Offers/2021.Q2%20Commentary/2021.Q2%20GR%20Commentary%201%20LinkedIn.png
---

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# The IEA Ushers in the Coming Oil Crisis

![2021.Q2 Commentary Thumbnail](https://info.gorozen.com/hs-fs/hubfs/Content%20Offers/2021.Q2%20Commentary/2021.Q2%20Commentary%20Thumbnail.png?width=202&height=259&name=2021.Q2%20Commentary%20Thumbnail.png)The fundamental problems facing global oil markets are much more severe than 2021’s spike in oil prices would suggest.

Our newest commentary, *The IEA Ushers in the Coming Oil Crisis*, provides an in-depth look at why global oil demand will not taper off due to ESG-related reasons, as the IEA predicts, and supply growth will likely remain restricted — a recipe for a dramatic oil deficit.

Download our Q2 2021 commentary for insight into:

- Problems facing the oil supermajors: Exxon, Chevron, Royal Dutch Shell and Total
- Shrinking global oil inventories
- Tightness in the US natural gas markets
- Higher-than-expected Chinese agricultural demand

## *Please fill out the form on this page to download a copy of our Q2 2021 market commentary.*

## *Download Your Copy*

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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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