Highlights OPEC is ‘back in the driver’s seat’ on balancing market Oil, gas activity strong in Q2 but cost pressures rising Execs predict $70/b WTI, $3.10/MMBtu gas at end-2021 Underinvestment and a focus on the energy transition will create a global oil supply shortage in two to four years, according to three-quarters of US oil and natural gas executives surveyed by the Federal Reserve Bank of Dallas in June. Receive daily email alerts, subscriber notes & personalize your experience. Register Now One upstream executive said policies focused on limiting oil and gas growth, restrained capital budgets in favor of free-cash-flow generation, and continued consolidation could lead to an undersupply for growing demand. “OPEC is back in the driver’s seat,” the executive said. “If they can balance market share with high prices, they’ll take it.” Another respondent said only one of 400 institutional investors their company has worked with is […]