Callon Petroleum (CPE) Q2 2021 Earnings Call Transcript fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
Energy stock investors will be primed for the latest OPEC+ meeting this week, which takes place on Thursday.
But the big picture will be important to keep in mind. And that picture was also put out this week by OPEC in its latest round of forecasts. The most important part of those forecasts was the supply deficit now being predicted for August of 1.5 million barrels per day.
That’s right: from an historic oil glut last year in the wake of the outbreak of COVID-19, we are now headed toward a supply shortage. This is happening even though OPEC has started to increase output.