UBS Sees $125 oil in the coming months
Swiss UBS strategists predict that oil will rebound to $125 in the coming months as fundamentals point to higher prices, spare capacity is ebbing and inventories are at multi-year lows. In a Thursday research note, UBS responded to Saudi comments to the effect that OPEC+ could cut production at any time, citing a disconnect between fundamentals and oil futures prices. The bank also noted coming disruption to oil markets when a European ban on Russian seaborne oil imports goes into effect in December. Don't forget one major event coming very soon , once the SPR releases end they will require by law to replenish the SPR. We are talking millions of barrels of oil over and above the daily consumption of 100 million plus per day , where is it going to come from and at what cost . Forget the noise and the media , this is going to be epic for energy investors not flippers , just a matter of time .