Multiple trends combining to reach a tipping point, mainly decreased appetite for capital investment by the west, inflation expectations becoming increasingly embedded and pandemic destabilization constraining supply/strengthening opec.
It's hard to see the era of cheap oil making a sudden comeback in this environment so this speculation doesn't seem unreasonable, though may be a tad overeager since winter is coming.
It's hard to see the era of cheap oil making a sudden comeback in this environment so this speculation doesn't seem unreasonable, though may be a tad overeager since winter is coming.