Insight - Climbing oil prices signal need for more output


Tight supply: Drivers line up their trucks to deliver crude oil to Marathon Oil in Utah. Futures markets are sending a strong and unambiguous message that petroleum inventories are already tight and expected to shrink further. — AFP

OIL prices are signalling the need for an urgent increase in production from Opec+ and US shale companies as the global economy and oil demand recover more rapidly than expected from the pandemic.

Futures markets are sending a strong and unambiguous message that petroleum inventories are already tight and expected to shrink further in the second half of the year and into 2022.

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oil prices , output , production , futures markets , US , shale ,

   

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