Post by
Wynjoe on Apr 11, 2022 8:12pm
Oil prices surprise drop coming...
Everything happens when least expected. Most everybody is predicting $200.00 oil,I disagree. Iran is producing more oil and much more is possible. Producers everywhere are in high production mode churning out more barrels then ever to avail of these bumper prices.Consumers are filling up less and less and only driving when necessary due to high fuel costs.Biden is asking any and all countries to produce as much oil as possible and Russia's oil is still being sold ,maybe to different countries but it's still in the markets.Bidens mid terms are looming and he must appease the masses somehow and cheaper gasoline would be a quick fix. All this combined with an spr release of another 180 million barrels and more can easily be released.The unexpected always happens I.m.o.and a retracement to $70.00 or less is extremely possible .