News Formal

The bear market case for oil: 4 reasons why oil prices are drifting lower

  • 📰 financialpost
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 85%

日本 ニュース ニュース

日本 最新ニュース,日本 見出し

Oil prices will not average much more than US$82 a barrel this year, one bear predicts, a good 20% beneath some forecasts. Read on for more.

Not so, Morse said.

Before the pandemic, gross domestic product growth of one per cent a year implied about half-a-per-cent growth in oil demand, Morse said. But that elasticity has fallen, and the fall is about to get sharper. ​And if demand is only to grow by 0.5 per cent, that is just 500,000 barrels a day. Can the world find that much extra oil? “It’s not hard,” he said.Looking at growth in oil-producing hubs around the world, supplying that growth looks pretty easy.

Arguments that a lack of investment — in the U.S. shale patch and beyond — will curtail supply in the coming years are overstated, he said. “As far as we can tell, the argument that costs are going up and spending is going down is wrong, because it misses the greater efficiency of capital use.”

このニュースをすぐに読めるように要約しました。ニュースに興味がある場合は、ここで全文を読むことができます。 続きを読む:

 /  🏆 7. in JP
 

コメントありがとうございます。コメントは審査後に公開されます。

日本 最新ニュース, 日本 見出し

Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。

The bear market case for oil: 4 reasons why oil prices are drifting lowerOil prices will not average much more than US$82 a barrel this year, one bear predicts, a good 20% beneath some forecasts. Read on for more.
ソース: nationalpost - 🏆 10. / 80 続きを読む »