The David Lin Report · Wednesday, September 2, 2026
Josh Young highlights that reduced rig activity in the Middle East, coupled with depleting global oil inventories, poses a significant risk for future oil supply. He suggests that even if Iran's actions were to cease, the lack of new drilling could make it difficult to ramp up production quickly, leading to sustained higher prices.
“The rig activity in the Middle East is down a lot. And so people like to think that there's it's really easy to get oil in Saudi Arabia, Kuwait, whatever. But that's a old old conception of fields 100 years ago. It's not so true anymore.”
“So the longer this goes, the more risk there is that international um storage levels are depleted and then simultaneously when they go to turn back on these fields without having drilled for let's say 6 months or a year in some spots um they may actually not be able to produce as much as people are thinking.”