Oil prices are coming out of depression phase that started in around 2015.
I know inflation is on everyone's mind now-a-days, but oil is still very cheap compared to even 10 years go. Prices have a ways to go up just to get back to non-inflation adjusted numbers from 10 years ago. And adjusted for inflation, $80/bbl is about average for the past 20 years.
I know inflation is on everyone's mind now-a-days, but oil is still very cheap compared to even 10 years go. Prices have a ways to go up just to get back to non-inflation adjusted numbers from 10 years ago. And adjusted for inflation, $80/bbl is about average for the past 20 years.
https://www.macrotrends.net/1369/crude-oil-price-history-cha...