Oil prices have rocketed above $90 per barrel, and, with “big oil” companies like ExxonMobil, Chevron and BP reporting huge profits, no one should be surprised that the banking world is eager to provide financing for the sector again. Indeed, as a looming shortage of oil supply on the global market becomes increasingly evident, Reuters reported Monday that even Fatih Birol, head of the UN-affiliated International Energy Agency (IEA), is calling for OPEC+ countries to produce more oil.
