Arrow Exploration Corp V.AXL

$100 oil coming?

[EagleHasLanded]

Portfolio manager Eric Nuttall sees oil returning to $100 per barrel in 2023.
 

The end of coordinated SPR releases, the gradual reopening of the Chinese economy and sanctions on Russian crude could lift oil prices in 2023. 

Bank of America predicted that Brent could quickly go past $90 per barrel on the back of a dovish pivot in the U.S. Federal Reserve.
 

https://oilprice.com/Energy/Oil-Prices/100-Oil-To-Return-In-2023.html

[EagleHasLanded]

Oil prices rose by $2 per barrel on Friday after Moscow said it could cut crude output in response to the G7 price cap on Russian exports, putting the market on track for a second week of gains.   https://www.cnbc.com/2022/12/23/oil-markets-russian-exports-storm-impact-lower-fuel-demand-growth.html

[EagleHasLanded]

This should be good news for oil price tomorrow:   During the Monday morning rush hour, traffic in Beijing surged by about 90% from a week ago — to “heavily congested” levels, according to Baidu data.   The rebound in social activity in Beijing over the last few days is an example of how long it might take for the country to shake off the economic impact of zero-Covid controls.

[EagleHasLanded]

Oil seems to be on the verge of breaking up now. Aramco says deficit of 1 million barrels coming as China demand surges. We will be at .50 soon.

[EagleHasLanded]

Oil Prices Set To Climb On Rumors That The Fed Will Stop Hiking Interest Rates   https://oilprice.com/Energy/Energy-General/Oil-Prices-Set-To-Climb-On-Rumors-That-The-Fed-Will-Stop-Hiking-Interest-Rates.html