The EIA's analysis of oil prices for the week of November 10, 2021, show that the price of oil has recovered since its dramatic drop at the beginning of the pandemic. This is due to the fact that growth in demand for oil has outstripped growth in production capacity. The EIA predicts that, due to increased US and OPEC+ production in response to this demand, prices will begin to fall from here, declining throughout 2022.
Cite as
Anonymous, "EIA: This Week in Petroleum", contributed by , The Energy Rights Project, Platform for Experimental Collaborative Ethnography, last modified 15 December 2021, accessed 21 November 2024. https://energyrights.info/content/eia-week-petroleum
Critical Commentary
The EIA's analysis of oil prices for the week of November 10, 2021, show that the price of oil has recovered since its dramatic drop at the beginning of the pandemic. This is due to the fact that growth in demand for oil has outstripped growth in production capacity. The EIA predicts that, due to increased US and OPEC+ production in response to this demand, prices will begin to fall from here, declining throughout 2022.