Oil Supercycle May Hinge on Drilling Lag, Saudi Prince Says
- Post-crash budget restraint may have supply impacts: minister
- Brent crude up more than 40% this year to highest in two years
This article is for subscribers only.
A new supercycle in global oil prices could be triggered by a lack of new investments in exploration, Saudi Arabia’s energy minister said.
Prince Abdulaziz bin Salman, who’s been warning speculators of the hazards of bearish bets, told the Robin Hood Investors Conference on Wednesday that his job is to prevent such a supercycle, according to people familiar with his comments.