The thing about the green transition is that it isn't something that is going to come easy.
Speeding up the process means having to accelerate the extraction and processing of raw material resources involved, which in itself comes with environmental and social impact. It isn't something that can be developed overnight and will take years to efficiently recycle and recover these raw materials.
That makes the transition a bit more "painful" and even more so from a financial aspect when you have to weigh that against financial institutions cutting off investments into the oil market, which the world is still heavily reliant on.
Putting two and two together, you can imagine how that looks for the energy market in the next decade or so. With the green transition taking a while to play out and oil investments dwindling, it is hard for producers to keep up against the constant rise in demand conditions. In turn, that's a key structural narrative for why oil prices are likely to keep elevated in the meantime.
