Quote from: K-Dog on Dec 07, 2024, 10:11 PMhttps://www.eia.gov/outlooks/steo/report/BTL/2024/01-brentprice/article.php
$79? That's $14 over the price BoA came up with and Tdos came up with also in his analysis as most likely. So it seems improbable because of that, and seems improbable also because of weak demand in China and the political mess in Europe. The House of Saud is also slow with production cuts, so about the only thing propping up the price is fear of Vlad the Impaler and the usual Israeli-Palestinian nonsense.
I'm in the camp with BoA and Tdos. It will be in the $60s IMHO. Although it might touch 50s at some point, I din't think it can possibly stay that low very long. We'd need a full on depression for that. Which isn't impossible either, but I think it's still too soon for that.
Exciting times tho.
RE