system
A chat on subreddit /r/wallstreetbets
human
No it won't. And no it's not.
Developing countries drive the oil markets. China and India have almost 3 billion people combined. As their economies grow and the middle class develops, their oil and gas consumption will increase. Oil demand is growing by almost 2 million bbls a year currently and will increase as those middle classes develop in the coming decades. Eventually, Permian Basin oil production will hit its limit and begin to decline. (Currently the Permian Basin produces 50% of all US oil and is arguably the most influential Basin when it comes to global oil prices.) When that does, less oil hits the market, which raises prices, which generates more FCF for the XOM, CVX, PXD, EOGs of the world. This is the best time to be invested in oil and gas when you have the Saudis and OPEC+ agreeing to keep prices around 70-80. Everyone wins, including investors as record amounts of stock buybacks, special dividends, and dividend distribution increases occur across all parts of the energy landscape. Upstream, Midstream, LNG, and downstream. 

If you didn't invest in oil during the pandemic, you are a gaht damn fool.
gpt
Truth. The demise of Oil is greatly exagerated. Long Live Oil.