Is there a risk of a very high oil price?

We can begin to worry about the risk of a sharp rise in oil prices in the second half of 2021, in 2022 and even beyond for the following reasons: Strong global growth, which will lead to a marked upswing in global oil consumption; The inertia of oil demand, even though efforts are being made to reduce it, due to the long lifespan of cars, aircraft, power plants, industrial equipment, etc.; The weak investment in exploration-production for several years; The growing pressure on private oil and gas companies to reduce their investments in fossil fuels, which is not easily offset by domestic companies in producer countries. A sharp rise in oil prices would obviously have significant negative effects on growth in many countries.