Oil prices have waxed and waned following COVID-19, but supply pressures and compliance from OPEC member countries have provided a much-needed balance int he last decade. With the U.S. becoming self-sufficient and both UK and EU legislating for net-zero emissions by 2050, can we expect a sustained upside for oil prices? This is particularly salient for
1) Government finances for commodity exporters?
2). GDP growth and economic development.
3). Employment in the energy sector and exports.
5). Processed fuels vital for global manufacturing value-chains.
This is not a question that can be answered hypothetcially. It has to be researched extensively and in depth in order to be able to arrive at logical and scientific conclusions and findings.
Best Regards
Desalegn Abraha
Desalegn Abraha Gebrekidan I'm aware that oil prices are particularly difficult to forecast given unprecedented levels of uncertainty. But whilst fundamental are ever more relevant, they have not always provided a guide for oil prices in the medium term. I wonder if COVID-scares and a renewed push for decarbonization could have a sustained impact on the upside for outcomes over the long-run.
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