RE:RE:RE:RE:RE:RE:Eric N.Eric the not-so-great said that we will not see $100 oil in 2024 or 2025 which is a radical change from is recent past where he predicted oil to be in the $100+ range in 4th Q and into 2025. Oddly he also says (factually) that global oil stocks are at low levels which tells us clearly he's a bit of a contradiction.
I think it can be attributed to him now having to be conservative calling for $80ish oil in the next 2 years likely so that his investors don't have huge expectations given his propensity to disappoint, while still taking credit if oil prices surprise to the up side.
I'm not sure how anyone can predict the price of oil with a 2 year horizon given the volatility and manipulation, so that is pretty much worthless analysis. This guy is 50% right at best, essentially equivalent to tossing a coin and often wrong.
So my prediction is to load up on stocks boys, Eric says oil trades in the 80s range which pretty much ensures it surpasses $100+ in 2024.