RE:Fear Will AbateI agree on the fear factor, but
US shale is in hot debate.
Fesharaki makes a reasonable argument that Shale will not be able to resist the huge cash flow if rising prices perist, which will cause them to be back in a big way 2022. Interestingly he also states that Saudi is searching for a sustainable sweet spot, and does not want prices above $75, which appears (so far) to
not be high enough to push stocks higher.
https://oilprice.com/Latest-Energy-News/World-News/European-Bank-For-Reconstruction-And-Development-Ends-All-Upstream-Oil-Gas-Fin.html