Global energy poised for a once-in-a-century transformation

LONDON -- For over a hundred years the oil sector has been characterised by cycles of boom and bust: low prices eventually lead to higher prices as underinvestment and rising consumption catches up with the industry.

With crude languishing near $40 a barrel in 2020 -- or less than half the level of six years ago -- it would seem natural to bet that oil prices will rise substantially by 2025 as the oil cycle turns.