BNO - Oil Price Could Hit A Different Kind Of Peak Oil In The Years Ahead

• The oil price had been making a recovery since late March. Global demand picked up and OPEC+ has seemingly taken a cautious stance toward increasing output.
• Interestingly, money is not flowing back into shale oil despite a rising oil price. Small increases in some basins have been partially offset by even smaller reductions in others.
• Many still see higher prices, though. If not imminently, then down the line, as recovering demand meets the lack of capex in new production, resulting in a supply crunch.

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