The price of physical Brent oil cargoes will spike to $150 to $160 per barrel once inventories hit all-time lows, Exxon executive Neil Chapman said.
  • Zedstrian@sopuli.xyz
    8·
    26 days ago

    forcing prices to shoot higher

    Reduced supply doesn’t force them to increase prices; market forces encourage them to do so by making it profitable, but they’re not forced to.