The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, on November 24, 2019. Photo: Reuters
The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, on November 24, 2019. Photo: Reuters
Neal Kimberley
Opinion

Opinion

Macroscope by Neal Kimberley

How lagging production will push recovery-driven oil prices even higher

  • With global oil production increases trailing resurgent worldwide demand, not even China can expect to have much influence over prices
  • The global demand and supply mismatch and fears over rising inflationary pressures could drive oil prices even higher in the second half of 2021

The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, on November 24, 2019. Photo: Reuters
The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, on November 24, 2019. Photo: Reuters
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