Oil producers have had a great year with oil prices rallying by as much as 20% in 2022 alone. Higher oil prices could incentivize upstream investments and help push more supply into the market. “Historically, markets led higher by tightening product and crude inventories are difficult to solve absent a demand destruction event or a supply surge, neither of which appears to be on the horizon.” Fundamentals and geopolitics have pushed oil prices rallying by 20 percent so far this year to levels last seen in the autumn of 2014. The price at over $90 a barrel is up by more than 60 percent from this time last year, and many analysts say that $100 oil is now a matter of when, not if. Oil majors and oil-producing countries part of the OPEC+ alliance have seen the benefits of rallying oil prices with huge cash flows and profits, and […]