In a statement issued without the usual summit to precede it, the G7 called on oil-producing countries to increase output in order to dampen oil prices, which have risen since June because of concern about a potential Israeli military strike on Iran.
The best assets to own in order to obtain a positive return after adjusting for inflation are commodities and commodity-producing stocks, especially those that do not keep their retained earnings in US dollars.
This overproduction is largely caused by a use-it-or-lose-it leasing dynamic which requires drillers to be actively producing hydrocarbons in order to extend leases.