World Oil Situation World stockpiles are low due to lack of investment and it's a dire situation: Mizuho Securities
Robert Yawger, director of the energy division at Mizuho Securities, joins BNN Bloomberg and talks about the latest U.S. oil inventories data. He says while every investor is talking about rising oil demand, refineries in the U.S. haven’t had to ramp up production to the same level it was at before COVID-19. He also says higher prices are also a product of lower stockpiles across the world, since many companies didn’t invest in infrastructure or drill new holes when oil hit negative territory in 2020.
https://www.bnnbloomberg.ca/video/world-stockpiles-are-low-due-to-lack-of-investment-and-it-s-a-dire-situation-mizuho-securities~2373983