Several investment banks believe that demand will outstrip supply in early 2022 Just a handful of OPEC members are capable of meeting higher production quotas IHS’ Daniel Yergin: it’s almost inevitable that shale output will go in reverse and decline thanks to drastic cutbacks in investment and only later recover at a slow paceN We are halfway through the first month of the new year, and oil’s bull run is showing no signs of slowing. Oil futures have vaulted 12% in the first two trading weeks of the new year, boosted by several catalysts, including supply constraints, worries of a Russian attack on neighboring Ukraine, and growing signs the Omicron variant won’t be as disruptive as feared. Brent crude futures settled $1.59, or 1.9%, higher in Friday’s session at a 2-1/2-month high of $86.06 a barrel, gaining 5.4% in the week, while U.S. West Texas Intermediate crude gained $1.70, […]