Here are a Couple of links that have peaked our interest:

The Middle East seems to keep Meddling with Oil prices having an major effect in the US.

https://www.hartenergy.com/news/sole-survivor-saudi-aramco-doubles-down-oil-outlast-rivals-190124

https://oilprice.com/Energy/Energy-General/OPEC-Members-Rebel-Over-Production-Cut-Extension.html

https://www.ogj.com/general-interest/economics-markets/article/14186116/rystad-covid19-could-scrap-one-quarter-of-global-floater-fleet

As echoed by the EIA, future production and consumption in the next 1-2 years likely do not support higher oil prices. With recent surges in COVID-19 cases, the recent uptick in prices has been muted and likely undone indefinitely until we see some sort flattening in Europe and the US. Actions by OPEC+ this year have been very short-term and any longer-term support to oil and gas prices will be dictated by the larger global supply/demand picture.

https://oilprice.com/Energy/Crude-Oil/Crude-Inventory-Build-Forces-Oil-Prices-Lower.html

Many smaller to midsized operators are struggling to avoid bankruptcies

https://www.forbes.com/sites/christopherhelman/2020/10/14/as-oil-bankruptcies-surge-vulture-investors-start-their-long-feast/#38ae54850676

EIA’s short term energy outlook falls in line with what we are expecting here at Rye Ridge and in the greater oil and gas space. A lot of negative factors facing the industry quickly manifested and converged during the onset of the pandemic. Many oil and gas operating companies entered 2020 overproducing in an oversupplied oil market and with unstable balance sheets. We expect the consolidation between companies, now finally happening, to continue into 2021 with mergers and acquisitions becoming more common. 

https://www.eia.gov/outlooks/steo/report/us_oil.php