Jacob Mitchell, Chief Investment Officer at Antipodes Partners, is upbeat on the long-term picture for consumption based commodities and particularly the outlook for oil. Mitchell says the oil market is currently working through excess high-cost production. This production has already declined significantly, a trend that he says will continue and result in the oil price stabilizing. However, in his opinion, the big recovery opportunity lies in natural gas. In 2016 the spot price for gas has touched a low point of $2 compared to a marginal cost of production more than $4. In this short video, Mitchell explains some fundamentals that provide a bullish set up for the commodity. “It gets pretty interesting in 18 months’ time… We’re expecting a big bull market in gas.” Watch the video or read a transcript of the video below.