Supply and demand. Never have these simple terms been more important than right now.
At the height of the COVID pandemic, gas prices were relatively cheap. No one went anywhere, so demand was low, and prices dropped in response.
The supply and demand principle has turned 180 degrees. Now, demand for gas is high … increasing prices at the pump.
With it, the demand for transporting oil and gas grows. According to Rystad Energy, five key countries shipped 2.4 billion barrels of oil in 2020: Brazil, Norway, the United Kingdom, Canada and Russia. By 2030, that capacity will reach 3.3 billion — a 37.5% increase. That doesn’t include the U.S.
Today’s Power Stock transports oil and other chemicals across the seas… see what it is here.
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