A new year, a new decade, but the sector faces lingering issues. The oil and gas business continues to confront low prices, abundant supplies/flat demand and ESG (environmental, social and governance) concerns.

But some industry observers turned optimistic as 2020 got underway.

“Pending further hostilities between the U.S. and Iran, or other geopolitical events around the world, it is not outside the realm of possibility that WTI [West Texas Intermediate] crude prices could hit $70 per barrel (bbl) based on three factors, Ryan Dusek, director in the commodity risk advisory group at Opportune LLP, said in a recent research report.

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