The growing fear of a jump of oil to more than $ 150 US

Oil rebounded at the highest level in more than three years as the Organization of the Petroleum Exporting Countries (OPEC) and its allies began cutting production early in the 1990s. last year to reduce excess supply

Oil investors may be sorry to have pushed companies to distribute money to Instead of investing in growth for the future because the scarcity of exploration creates the framework According to Sanford C. Bernstein & Co.

Read more: Iran asks Trump to stop tweeting so that oil does not increase more than the price

focus on increasing returns and shareholder compensation at the expense of capital expenditure to find new supplies , written this Friday in a note among which was Neil Beveridge. This has led to a drop in major producers' reserves and a drop in the sector's reinvestment coefficient to the lowest level in a generation, paving the way for a rise in oil prices over the past decade, according to Bernstein.

"Investors who have pushed management teams to control spending on capital goods and bring in money will miss the underinvestment in the sector," badysts said. "Any shortage of supply will cause a sharp rise in prices, probably much higher than the increase of US $ 150 per barrel observed in 2008."

The world's leading oil companies, such as Royal Dutch Shell Plc and BP Plc, broke the price down in 2014 by lowering costs, selling badets and incurring debt to satisfy investors with large dividends . This year, shareholders have sanctioned the biggest of them, Exxon Mobil Corp., combining disappointing results with a major spending plan and the lack of redemptions.

The global glut of oil in recent years has hidden a "chronic underinvestment" Bernstein said in the report. Oil rebounded at the highest level in more than three years, as the Organization of Petroleum Exporting Countries (OPEC) and its allies began cutting production early last year to reduce a global oversupply. Producers now plan to extract more to calm the market, but disturbances in Libya and Venezuela keep prices high.

Proven reserves of the world's major oil companies have fallen by more than 30% on average since 2000, while only Exxon and BP show improvement through acquisitions, Bernstein said. On the other hand, more than 1,000 million people will be urbanized in Asia over the next twenty years, which will boost the demand for cars, as well as air, road and plastic transport, which also require oil, according to Bernstein.

"If the demand for oil continues to grow until 2030 and later, the strategy of returning the money to shareholders and investing insufficiently in the reserves will only sow the seeds of the next super cycle, "the badysts wrote. "We will have to keep the companies that have barrels on the ground to produce, or the services to extract them, and abandon the others."

See also: Potential OPEC pact holds barrel at more than US $ 74

] Brent crude reached a record high of over US $ 147 in 2008 because nascent growth demand and lack of available resources immediately resulted in a synchronized increase of all raw materials that received the name super. -cycle. The global reference variety was trading this Friday at 77.31 US dollars a barrel at 9:06 in London, an increase of about 60% over the last 12 months.