1. Demand increase
    1. Public transport
      1. As cities open back up, and restrictions are lifted, people are using public transport, flights, and vehicles to travel to work or restaurants
    2. Quarantine restrictions being lifted
      1. some states have let stay-at-home orders expire, and as the traditional summer driving season approaches, demand has rebounded
  2. Slow Progression
    1. Too much increase can lead to supply and demand imbalance
      1. Assuming there is no second wave of coronavirus, a slow and steady progression is key to price increase
  3. U.S. oil rig count is falling
    1. indicator that future oil production in the U.S. may be lower than it otherwise would have been
    2. Less drilling, less supply
      1. Long term, reserves get used up but short term causes an imbalance

“The marked price increase in recent weeks is bringing back crude production that was shut-in, triggering the unloading of oil stored on tankers and weighing on refinery margins.” – UBS analyst Giovanni Staunovo

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