The Bullish Case For Oil Prices In 2022

At the start of 2022, Omicron’s surge and record COVID cases in many major economies are combining with an expected oversupply on the oil market to give bears a reason to cheer.  Yet, oil prices rose by 5 percent in the first trading week of the year as analysts focused on the possibility that the oversupply may not be as high as predicted a few months ago, also because of very low levels of inventories at the end of 2021. In addition, supply disruptions in Libya and Kazakhstan reminded market players of the volatility of much of the…