Energy security concerns are bubbling beneath the surface as the global oil market seems to be entering into the early stages of recovery from the pandemic. While OPEC+ can provide the necessary crude as demand recovers in the near term, there may be a lack of firepower from the rest of the oil-producing fraternity further down the line. But the recent rise in oil prices could be just what the world needs. Dated Brent, the global physical oil benchmark, has recently been hovering in the low-to-mid $60s/b, having risen more than 50% since demand-led optimism over the COVID-19 vaccine rollout back in November. And oil prices could shift higher again once the market shakes off the latest bout of coronavirus jitters. S&P Global Platts Analytics predicts oil prices will climb above $70/b around mid-year as improved supply-and-demand fundamentals starting in May lead to substantial stock draws through to August. […]