Harsh vardhan singh

Can We see another boom in oil prices soon?

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Despite of recent corrections can we see another spike in oil prices soon? if we ignore the fundamental theories..facts and figures shows different stories like 12 % Drop in global energy investment while demand is increasing day by day secondly Shale oil production is not increasing as much as expected nearly 55% fall in over two years according to US energy information. 
and the Iran oil supply increasing day by day and they want to maximize their revenue by exporting more and more oil before sanction hit the Iran in November. 

According to Chris wood, chief equity strategist at CLSA, "While a further spike in oil prices to the 120-150 level would ultimaitly contain to seeds of its own destruction by destroying demand, it would do a lot of damage in the short to medium-term

And the Market Uncertainty and trade war is also one of those reasons... 

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It has to be a War Between Iran and Saudi Arabia plus a military conflict in east asia (by now the largest oil market) to make oil price rise over 120U$S, and that's not going to happens before 2019-2020.

The problem of wanting higher oil prices is that it will encourage everyone to produce oil even from not so profitable sources (Oil Sand, and Offshore Shales and Sands) and gas from unconventional sources, like methane hydrates and that makes the price of oil go down

It can happen but there's various countries that can produce huge ammounts of fossil fuels from shales then the high oil prices isn't going to matter that much. Is a post-OPEC kind of place by now.

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