The next bull market in oil could be driven by the need for governments, refiners, and traders to replenish their strategic and commercial oil inventories.
This necessity creates an additional demand for crude oil of 500,000–750,000 barrels per day through 2028.
The Middle East is once again in focus as renewed military confrontations with Iran could threaten oil supplies.
In this scenario, oil prices may rise as governments and companies will need to rebuild their reserves.
