When the current abnormally low interest rates on long-term bonds rise over the next few years, it will become more attractive for producers to increase the supply of oil and invest the resulting income at the higher rate. Unless expectations about the fundamentals of future supply and demand change, the rise in the interest rate will cause oil prices to fall further.
低利率鼓励石油生产商把石油留在地下。如果当前长期债券的反常低利率在未来几年中升高，石油生产商就有动力增加石油供给，将所获得的收入按更高的利率投资。除非关于未来供给和需求的基本面的预期发生改变，否则利率的升高将导致油价进一步下跌。