If the economy goes into a recession commodity prices including oil will fall not rise. Also, as oil prices
increase, the idle drill ships will be called back into service and more fracking will occur in Texas, North Dakota etc.
There’s a reason a recent report said that the US would be the biggest oil exporter in a few years. We’re close to seeing a tidal wave of oil along with lots of natural gas unleashed on the market. Add in Ford and GM’s move into electric cars and gasoline will be available beyond normal supplies unless they start closing refineries.