Oil and gas industry expected surplus – but war brought shortage
In 2023, the International Energy Agency predicted that by 2028 the world’s oil companies would produce more oil than people wanted to buy. Prices responded to that and similar projections of slowing oil demand, dropping too low to attract investment for new wells and refineries. No forecast anticipated that the Strait of Hormuz, the main […] The post Oil and gas industry expected surplus – but…
We haven't written up this one. Asia Times has the full story — the link below goes straight to it.
