Six years after former BP chief executive Bob Dudley said that “the industry needs to prepare for lower for longer,” a growing number of major investment banks now expect “higher for longer” oil prices.
- A growing number of major investment banks are turning bullish on oil in the medium to long term.
- A lack of investment is leading to supply deficits as demand rebounds to pre-COVID levels.
- Rebounding consumption and tight supply could push oil prices even higher.
Valeura Energy Inc (LON:VLU) is an upstream oil & gas company, with a clear strategy to add value for shareholders. The Company has a strong balance sheet positioning it for potential inorganic growth opportunities in the near/medium-term, and substantial longer-term upside potential through an operated deep, tight gas play.