US energy agency revises up oil price forecast for 2023Oil is expected to average $77 or where we're at, I do put trust in US Energy forecasts above others. I think that there's just too much cheap Oil out there flooding the markets in ways that leave them undetected, the parlor trick, the left-hand doesn't know what the right is doing. I had a feeling that the FED would trip up Oil and I warned everyone so hopefully, you positioned yourself yesterday. Next Tue 8:30am is US Inflation Rate which could keep a cap on Oil till then Wed US Retail Sales, Thu PPI, and Building Permits so next week will shake Oil up. Oil gave us 3 good days of trading but the day is still young. I can't see Oil heading over $80+ tomorrow as it stands right now and without solid numbers out of China Oil runs with the FED comments.
US energy agency slightly revises up oil price forecast for 2023 (aa.com.tr)