Investments in new oil production have been stalling since about 2014. This has led many to suggest that higher prices for longer are on the cards, supported by anti-oil industry energy policies in key jurisdictions that are home to the largest private producers. Yet a case might be made that although lower, the oil industry's investments over the past decade have become better targeted at prospects with a good chance of a discovery. Either that, or they have become luckier than usual. Nowhere is this clearer than in Africa. Earlier this month,…
