What it means in practice is that producers

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Excerpt: "What it means in practice is that producers would have more certainty about future demand for their product, and that would encourage investment in production today," a senior U.S. official told reporters.

Explain why this U.S. official believes that the expectation of an increase in demand in the future (in 2023) would make producers increase their extraction capacity in the present (2022).

Will this additional capacity cause oil prices in the future to increase or drop relative to what would have happened otherwise

Reference no: EM133259948

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