Cardinal Energy Ltd (Alberta) T.CJ

WTI Forecasts 22-23

[Re1ndeer2]

March 8 (Reuters) - Goldman Sachs hiked its price forecasts for Brent oil saying the world could be facing one of "largest energy supply shocks ever" because of the Ukraine crisis, while Barclays said prices in its worst case scenario could top $200 a barrel.

 

Oslo-based consultancy Rystad Energy also said Brent could rise to $200 if Europe and the United States banned Russian oil imports. read more

 

Goldman raised its 2022 Brent spot price forecast to $135 per barrel from $98 and its 2023 outlook to $115 from $105.

 

[marcrobert]

all that wont matter if virus lockdowns asia and recession europe and slowdown here. its risk off, oil down $30 in a week from temporary 130 peek. Nutall might dare to dream but if we get a global recession or even slowdown, oil may be back at 75 in 2 months. Does that change the 2-3 year picture or longer? not sure but follow on effects and self fulfilling prophecies can last, plus there's

[ygdrasil]

Bit of a damned if you do, damned if you don't kind of thing because oil prices were threatening to cause a slowdown all by themselves with the way they were skyrocketing. The recent drop, IMO, is positive as long as covid doesn't send economies into another tailspin. CJ still makes money hand over fist at $100 per barrel, and demand is less likely to crater in the $100-$120 range.