Higher For Longer Oil Prices?
Comment of the Day

October 29 2021

Commentary by Eoin Treacy

Higher For Longer Oil Prices?

This podcast from Morgan Stanley may be of interest to subscribers. Here is a section: 

Underlying our structurally bullish view on EEMEA is an assumption of higher for longer oil prices due to supply constraints on the path to net zero. Marina speaks to Martijn Rats about his bullish near-term and long-term outlook for oil and the questions EM investors have been asking on this theme.

Eoin Treacy's view

The shock of negative prices during the pandemic killed off speculative appetite among exploration and production companies in the oil sector. Few new wells were dug and the sector has been relying on the stock of drilled but incomplete wells over the last intervening year. That has curtailed the sector’s ability to respond quickly to higher prices.

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