The Oil Supply Crisis is Worse Than You Think | Rory Johnston

<p>Interview recorded - 28th of September, 2026On this episode of the WTFinance podcast I had the pleasure of welcoming on Rory Johnston. Rory Johnston is a Toronto-based oil market researcher, the founder of Commodity Context, a lecturer at the University of Toronto’s Munk School of Global Affairs and Public Policy, host of the Oil Ground Up podcast, as well as a Fellow with both the Canadian Global Affairs Institute and the Payne Institute for Public Policy at the Colorado School of Mines.During our conversation we spoke about the current situation in the oil markets, China&#39;s impact, why the supply crisis is worse than it appears, reshaping the energy market and more. I hope you enjoy this conversation. 0:00 - Introduction1:28 - Overview of the Oil market?5:51 - China&#39;s impact15:12 - Other factors supporting oil prices16:59 - Refined products &amp; Diesel24:51 - Other solutions?28:38 - Gas market?31:12 - Reshaping the energy market?38:48 - Pricing outlook45:21 - One message to takeaway?Rory Johnston is a Toronto-based oil market researcher, the founder of Commodity Context, a lecturer at the University of Toronto’s Munk School of Global Affairs and Public Policy, host of the Oil Ground Up podcast, as well as a Fellow with both the Canadian Global Affairs Institute and the Payne Institute for Public Policy at the Colorado School of Mines.He is a leading voice on oil market analysis, advising institutional investors, global policy makers, and corporate decision makers. His views are regularly quoted in major international media including the Financial Times, New York Times, Wall Street Journal, Bloomberg News, Reuters, BNN Bloomberg, CBC, and Financial Post, and he frequently appears on numerous market and industry podcasts (e.g., Bloomberg’s Odd Lots, Hidden Forces, etc.).Prior to founding Commodity Context, Rory led commodity economics research at Scotiabank where he set the bank’s energy and metals price forecasts, advised the bank’s executives and clients, and sat on the bank’s senior credit committee for commodity-exposed sectors. Rory Johnston - X - https://x.com/Rory_Johnston?lang=enCommodity Context - https://www.commoditycontext.com/WTFinance - Instagram - https://www.instagram.com/wtfinancee/Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfniTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4Twitter - https://twitter.com/AnthonyFatseas</p>