Should you top up on oil?

The recent drop in the oil price to just above $50 a barrel has given new heart to the bears, who point out that the oil cartel Opec’s attempt to curtail production was always doomed to failure, given that its members control just a third of global output. Meanwhile, James Anderson, co-manager of the Scottish Mortgage Investment Trust, warns that “the age of fossil fuels is over”, thanks to the growth of alternative energy and electric vehicles.

Perhaps that’s true. But for now at least, demand for oil is running at 96 million barrels per [...]

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