The oil sector has its swagger back CanadiansInvest
Energy security is now the phrase on everyone’s lips and yesterday’s villains are today’s savioursA record-breaking 7,200-plus people jammed into Houston’s Hilton Americas last week for what is often dubbed the Super Bowl of the energy world – CERAWeek. And the mood was buoyant.
Recent developments, from the Ukraine crisis to lack of investment in the industry to the rising global consumption post-pandemic to the resultant tight demand and supply scenario, have brought about a sea change in perceptions. Many now feel that over-emphasizing a ‘green revolution’ may result in its own crisis.
But the industry remains on edge. Global majors concede that, while energy markets are currently in balance, tight spare capacity and supply uncertainties related to Russian oil exports could easily disrupt the stability.
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