Post by
flamingogold on Jul 05, 2022 1:30pm
Oil tanking and recession fears
Oil finally taking it on the chin as recession is likely already here. Question is how deep and how long it will be.
Employment remains strong and I think this will likely be the case throughout the slowdown. I am betting on a shallow recession but longer than the average as covid's claws post pandemic will continue to dig into the economy in weird ways.
Recessions always end, so if it gets there, I start buying here again mid $3's to ride this pony back up once more.
Comment by
EdPaquette on Jul 05, 2022 2:22pm
JP Morgan released a statement today outlining a scenario where, in response to sanctions, Russia could cut oil production by up to 5 million barrels per day. If that were to happen, JP Morgan suggested the price per barrel for Brent crude would go up to $380 per barrel.
Comment by
flamingogold on Jul 05, 2022 2:27pm
When we start hearing sky high estimates we know what usually happens.
Comment by
flamingogold on Aug 04, 2022 10:04am
bumping this... crude now below $90 or down almost 25% from the high last month just when rumours started circulating of $150 - $380. Never fails. When the media start pumping, that's the time to run.