Oil Prices Could Go 'Significantly' Higher Starting in 2021: Loews CEO

The video discusses the current challenges in the oil market, highlighting a significant supply-demand imbalance and a decline in oil prices. It points out the underinvestment in oil production capacity, with major companies like Exxon and Chevron failing to replace their production. The video emphasizes the reality of depletion, where 5% of productive capacity is lost annually, necessitating investments to maintain production levels. It concludes with a forecast that oil supply may not meet market needs in the coming years, potentially leading to higher prices.

What impact does depletion have on the world's productive capacity for oil?

What predictions can be made about oil prices in the coming years based on current trends?