As highlighted repeatedly by OilPrice.com there are two extremely powerful reasons why the oil price has been effectively capped around US$75-80 per barrel of Brent since the end of the 2014-2016 Oil Price War. These two reasons remain in place and are the key factors why no matter how much various investment banks and funds have talked their (long) books with tales of how and why the oil price should be at US$80 or US$90 or US$100 or above per barrel it has not got there. There has also been talk recently that the new U.S. President, Joe Biden, would be happy to see oil prices go much higher, given his supposedly ‘green agenda’ – as this would narrow the effective price gap between expensive green energy offering and hydrocarbons ones – but as also highlighted by OilPrice.com, it is funny how often and how quickly such lofty principles […]