Oil and gas industry expected surplus—but war brought shortage instead

T2Covered by 1 source · first reported by Phys.org / ScienceDaily (tech) at 29 Sept, 15:00 UTC

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 in new wells and refineries.

Sources

• T2Oil and gas industry expected surplus—but war brought shortage insteadPhys.org / ScienceDaily (tech)29 Sept, 15:00