Saudi might cause temp pullback, but here's the pitch . . .FWIW . . . Nuttal's pitch:
"With the backdrop of normalizing oil demand, the imminent exhaustion of OPEC spare capacity, years long insufficient investment in long-cycle offshore projects, and the end of U.S. shale hyper growth the backdrop for oil is overwhelmingly positive and suggestive of meaningfully higher prices in the years to come."
https://financialpost.com/commodities/energy/oil-gas/eric-nuttall-the-fog-of-energy-ignorance-is-clouding-a-generational-investment-opportunity