HOUSTON — The oil market of the past 12 months is not one that analysts at the CERAWeek conference of 2023 would have predicted.
That it has been a surprise to numerous experts and analysts was a recurring theme at a key session at the giant CERAWeek 2024 conference. The panel was titled “Oil Markets in 2024-2025: Abundance or Scarcity?”
Panelists did not definitively answer the question. However, with a prevailing price of more than $80 a barrel for Brent crude, the world’s benchmark, the...