Current market price of oil is acknowledgement the world continues to have too much supply capacity. It's not a new problem.
Perhaps five countries are now capable of depressing oil if they are not prudent enough to avoid it. Only thing that changes this is significant expansion of the world economy which is far from guaranteed. 90 days ago $80-100 oil was predicted in 2019 and that is proof you have to be careful who's opinion you use to make investment decisions. Here we are now, not much over half that wild prediction.
Perhaps five countries are now capable of depressing oil if they are not prudent enough to avoid it. Only thing that changes this is significant expansion of the world economy which is far from guaranteed. 90 days ago $80-100 oil was predicted in 2019 and that is proof you have to be careful who's opinion you use to make investment decisions. Here we are now, not much over half that wild prediction.