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A Looming Oil Price Super Cycle Will Likely Be The Last this post authored by RABAH AREZKI AND PER MAGNUS NYSVEEN
After a pandemic and a price war sent petroleum prices tumbling in 2020, they are again on the rise. A new oil price super-cycle - an extended period during which prices exceed their long-term trend - seems to be in the making, driven by
pervasive supply shortages from the lack of investment that has continued since the 2014 collapse in oil prices and, more recently, reduced investment in shale oil production; and
demand growth triggered by a strong recovery in countries such as China, a big stimulus package in United States, and global optimism about vaccines.