Not many people believe her argument that oil prices are primed to jump above $70 a barrel (bbl) by the end of 2019, Nicole Leonard said, especially with the tumble at the end of 2018.

But it’s going to happen—the numbers are what they are. And it will happen as a result of a series of triggers across the oil and gas value chain as production continues to bound forward, especially in the Permian Basin; pipelines come online faster than expected; and capital is freed up for a massive midstream infrastructure buildout.

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