RE:$100 oil inevitable Reachme wrote: OPEC+ has decided to maintain its production cuts until Brent oil settles within the $90.00 – $100.00 range. This decision is driven by key players Saudi Arabia and Russia, both having substantial reasons to uphold their production reductions. According to the IMF, Saudi Arabia requires an average oil price above $80 to balance its budget. Given the ongoing production cuts, the country likely needs a higher price and may push oil prices above $90 before considering reintroducing some production into the market.
$100 inevitable.....gxe is making the big bucks at $90 so keep it coming