The EIA is expecting a supply crunch in oil markets as demand continues to grow, a scenario which could push oil prices higher. OPEC, on the other hand, is predicting a more balanced oil market, even raising output quotas as a result. Despite raising quotas, OPEC has struggled to meet its production marks, however, adding upward pressure to oil prices. As we kick off the new year, the race is on to predict the course that the oil market will take in 2022. The bulls and the bears are predicting two extremely divergent paths for what all agree is going to be a tumultuous year for Big Oil. One vision predicts that supply will recover as production returns to business as usual, and oil demand steadies or decreases. In this scenario, we can look forward to stabilized oil prices. The other vision is that demand growth will keep on […]