Saudi Prince claims the price of oil is too low

You may remember me speaking about the fundamentals of oil and gas. It is as easy as supply and demand. Based on what the world is producing, what we have in storage and what we are consuming the price of oil should go up.

Yesterday the Saudi Prince said the price of oil under $100 per barrel does not make sense.
One of the big reasons he gave was the lack of money for drilling new wells.
In order to have more money for drilling the price of oil must go up.
He said OPEC+ will reduce production if necessary to push the price back up.
https://yhoo.it/3wqU7lo

Many will wonder why the oil and gas industry needs more money and why there isn't enough money.
The answer may lie in ESG.

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#recession #inflation #stagflation #hyperinflation

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This video is meant for educational or entertainment purposes only. This video is not a solicitation. I am not a lawyer, CPA or financial advisor and I am not giving legal, financial or tax advice.