Russia’s invasion of Ukraine has upset the oil market. But it would be a mistake to attribute the high oil price to what’s happening in Ukraine.  The oil price is high, not because of some crisis or other — but because of a long, steady decline in investment by oil companies over the last seven years. This can’t be undone quickly. It means we’re going to see supply bottlenecks. It means that any ripple in demand could result in surging prices. The bottom line is this: $100 oil will soon become a floor, rather than a ceiling. It’s is worth…

Join The Currency

INTRODUCTORY OFFER.

Sign up today: Full annual membership for just €200.

Don’t miss out on what is going on with our daily unique stories from our team of skilled journalists and insightful commentators.

Members of The Currency get full access to over 3,200 exclusive interviews, investigations, and analysis, plus over 220 podcasts.

Annual membership is just €200 for the first year, a saving of €100.

Or try The Currency for the first month for a special introductory rate of €5, a saving of €20.

Cancel at any time.

To become a member today click here.