Goldman Sachs's Nikhil Bhandari warns of supply crunch by 2027
Global energy markets are bracing for a supply crunch because oil companies haven't been investing enough in new production or refineries.
According to Goldman Sachs's Nikhil Bhandari, non-OPEC oil supply growth is set to slow sharply by the end of 2026 / starting in 2027 as reserves run low and big projects wrap up.
He also pointed out that refinery closures are outpacing new builds, making it even harder to keep up with demand.
Edible oil packaging up nearly 100%
Bhandari says oil demand isn't peaking for another decade, but current prices aren't high enough to motivate companies to spend more.
India's rising incomes mean it's now a major driver of energy demand, while some products in China, such as diesel and gasoline, have already hit their peak.
With supplies tightening, edible oil cooking packaging prices are up nearly 100%, pushing up costs by nearly 100% and putting extra pressure on industrial supply chains.