Veren Inc T.VRN

Oil prices will surge to $100 this year, Goldman Sachs warns

[smallcaptdr]

No one like my posts so here drool over this, Goldman is the one bull so they must know more than EIA, and if these are Brent prices we know that WTI is lower. So here BB, pick your belief and runs with it but apparently, I'm not allowed to post truthful stuff if it works against pumpers. Thanks for warning me, Goldman!  Here are other predictions by Goldman, $140 in June 2022 and Aug 2022 $120 they have $100 on the brain, and a half year later $81 Oil



The call from Goldman Sachs stands in stark contrast with the US Energy Information Administration, which recently said Brent will average $75 a barrel this year and $68 in 2023. Citigroup recently predicted a “radical drop” in energy prices that drives Brent to $54 a barrel by the end of 2023.


Oil prices will surge to $100 this year, Goldman Sachs warns | CNN Business

Goldman Sachs predicts $140 oil as gas prices spike near $5 a gallon | CNN Business

https://www.cnbc.com/2022/11/21/goldman-sachs-cuts-oil-forecast-to-100-per-barrel.html

https://seekingalpha.com/news/3877944-oil-prices-likely-to-return-to-120-as-global-energy-crisis-continues-goldman-sachs-jeff-currie

[Aurum1983]

interest rate - likely peaked SPR release - stopped OPEC - ready to defend US shale - self-preservation mode Russia - permanant loss of production China - reopening Global demand - record level per OPEC IEA This is not going to change for the medium term. Stop your hourly non-sense NOW and accept the writings on the wall. The shorts and panic sellers have stopped if you haven't noticed. Take

[Aurum1983]

Here is another point for you to drool over. We don't even need oil at $100 for o/g to pop. With the current debt level and fiscal discipline we are at an inflection point as they will pay out 50% or more of  their free cash flow. We are pretty much going straight up from here when CPG increases dividend (which I am sure they will). 

[Moemoney42]

Agreed Aurum.. these companies will look like the companies of old (trusts) that returned a large percentage of FCF to shareholders before the gov't changed the rules..  Smallcrapper has an agenda here, don't doubt it.. no one will re-post constant negative headlines where ever he/she can find them to skew the narrative about the future strength of the O&G industry.  I'm

[dandu1924]

And about their dividend, before 2015  CPG paid .23 a month dividend or $2.76 a year with a big debt on their back, so I don't see why they can not do the same again with a better  balance sheet and during this  bullish cycle for  those next 4 or 5 years.

[AngryBob]

Very good points Aurum. Plus Biden has effectively set a floor price of $70 (should it get that low any time soon). Let the good times roll.