RE:RE:RE:Now that that is handled we can all relaxI like your optimism Jeffery but unfortunately I dont share your view.
I follow a few commodities experts and they have been very bullish on oil for a few years but it never materializes. Most of them said we would be over 100 in 2023, then late 2023 then 2024 due to low inventories. The price is range bound and will be held in the 75-90 range because that is the best medium for producers to make money and economies to run efficiently. If it gets to 150 or 200 governments start putting pressure on OPEC and oil producing countries to scale back. Unfortunately it seems like supply and demand is not the driver for oil pricing. Politics now determines the price