text: Exxon CEO Darren Woods is confident that oil prices will eventually decrease despite current high prices. In an interview with CNBC, Woods said, “As you get supply and demand tighter, events that happen around the world … lead to a lot more volatility because there’s less of a buffer, and I think we’re going to see that for some time now. Until industry begins to ramp up production and increase the level of supply to meet this growing demand, or in turn demand starts to come down a little bit … you’re going to see a lot more volatility until we get better stability.” (AC: Woods believes that the current high oil prices will incentivize more oil production, however, that timeline is not clear. West Texas Intermediate crude oil traded at $87.67, hitting its highest level since 2014. – T.W.) The information provided by Forward Observer in this report is for informational purposes only. It should not be considered financial advice. You should consult with a financial advisor to determine what may be best for your financial needs.— END REPORT