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Zeitgeist — a spike by Chris Gathercole
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Peter Zeihan Warns: Oil Crunch Coming This Summer

Podcast · Guest appearance on Financial Sense Newshour · Episode

  • On Financial Sense Newshour (host Jim Puplava), Zeihan warned of a summer oil crunch: roughly 1.25 billion barrels of crude have been lost over four months, with output down 10-14 million barrels/day, Kuwait fully offline and Qatar heavily damaged.
  • He argued the Iran peace deal is fragile — Netanyahu benefits politically from continued tension, Iran emerged with more leverage over Gulf shipping, and the Trump administration’s decisions were made without experienced regional advisors.
  • Price forecast: he rejected predictions of oil returning to the $50-60/barrel range, citing additional constraints from Venezuela’s earthquake-damaged power grid and the risk of Russian production collapse from Ukrainian drone strikes on refineries.
  • Practical takeaway: absent new crude supply or a major demand collapse, expect elevated energy costs to persist through the following months.