“If supply stays where it is, and demand remains weak, you better believe [the price of oil] is gonna go down more. But if some supply is taken off the market, and there is some growth in demand, prices may go up. But I’m sure we’re never going to see $100 anymore,”
“I said a year ago [that] the price of oil above $100 is artificial,” Alwaleed said. “It isn’t correct.”
$33+ trillion in post-2008 global 'stimulus' couldn't hold demand above $100. Most of the world's remaining oil is now 'uneconomic' aka. unaffordable. Investment requires sustained prices, not pro-cyclical volatility.
The age in which cheap oil facilitates the mass consumption lifestyle, is over. $Trillions were just 'unexpectedly' vaporized attempting to keep it afloat.
