Tornado Alley (PROG)

[Zorax]

Here's another article, this from an entrenched oil exe so his comments are carefully crafted for protection, however, he may have inadvertently gave some inside knowledge slip in the two paragraphs I snipped from the article.

https://oilprice.com/Energy/Energy-General/Where-Are-Oil-Prices-Headed.html

Flash forward to today, and as of the most recent EIA-WPSR, we are bumping around 420 mm bbl currently. Hence the case can be made that as a combination of fiscal restraint in the post-2019 era, and OPEC+'s voluntary withdrawals, the strategy to raise prices, by reducing supply has been pretty successful.

In the “hard-landing” scenario, my expectation is that we will get a demand-led sell-off in crude, and an inventory build that should work to put a lid on prices. I think this will be in the current range of $90-$110 per barrel due to persistent underperformance in raising output significantly by shale producers or OPEC.

In short, the world is going to experience an era of higher oil and gas prices, and there just isn’t much anyone can do about it.

I don't agree with his final comment, because just with the two examples I show, there are parties that are withholding production with the intent to create much higher prices and the same people can reverse that greed. Most the comments that follow the article are from people with vested interest in oil and profits.