Increasingly tight production/consumption dynamics in the oil market will drive higher oil prices in the near to midterm, signaling the start of the next investment upcycle for the industry. We base this forecast on the convergence of three major trends that have developed over the past few years.

  • Sustained high growth in global oil demand
  • Limited CapEx investment
  • Shrinking undeveloped Tier 1 acreage 

In this Executive Insights, we provide an analysis of these trends and discuss next steps for investors preparing for the coming upcycle. 

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