After a pandemic and a price war sent petroleum prices tumbling in 2020, they are again on the rise. A new oil price super cycle — an extended period during which prices exceed their long-term trend — seems to be in the making . That’s being driven by pervasive supply shortages from the lack of investment that has continued since the 2014 collapse in oil prices and, more recently, reduced investment in shale oil production. In addition, demand growth has been triggered by a strong recovery in countries such as China, a big stimulus package in the United States and global optimism about vaccines. Nevertheless, this could be the last super cycle for oil because major economies appear committed to replacing fossil fuels , and car manufacturers have responded by committing to replacing internal combustion engine vehicles with electric vehicles . This shift will transform the oil market into […]