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Russia is unable to increase production. Where will oil supply come from as the pandemic recedes?
As we have discussed in previous videos, I believe the biggest catalyst for higher oil prices this year is the coming market realization that OPEC+ will not be able to meet the call for supply.
As the pandemic recedes and oil demand not only equals but exceeds pre-pandemic levels it will become apparent that there is not enough oil to supply the world's demand. This will result in oil prices above $100/bbl.
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By John Polomny
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1717 ratings
As we have discussed in previous videos, I believe the biggest catalyst for higher oil prices this year is the coming market realization that OPEC+ will not be able to meet the call for supply.
As the pandemic recedes and oil demand not only equals but exceeds pre-pandemic levels it will become apparent that there is not enough oil to supply the world's demand. This will result in oil prices above $100/bbl.