Oil prices are expected to rise in the second half of the year as supply struggles to meet Demand, according to the Secretary General of the International Energy Forum. Demand has quickly recovered to pre-Covid levels, but supply is struggling to catch up. Increasing demand from China and India is pushing up oil prices, and the Secretary General predicts a 2 million barrel per day increase in demand from these countries in the second half of the year. If there is a supply-demand imbalance, OPEC+ is expected to increase supply. The Secretary General also highlighted the need for investment in renewable energy to ensure energy security.

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