Goldman Sachs has an important message for you

[dan_s]

Read this carefully: https://oilprice.com/Energy/Oil-Prices/ ... ected.html

Goldman is one of the most bullish of the biggest banks. JPMorgan is also among the bulls, citing “solid fundamentals and tightening balances.” Citigroup and Barclays, however, are not that optimistic, and say that rising U.S. shale production could undo the current market optimism.

MY TAKE:
> U.S. oil production will not be the "boggy man" that keeps a lid on oil prices. I think EIA may still be overstating U.S. oil production in their weekly estimates.
> Super cold weather does impact production, so we may see U.S. oil production flat in December and January.
> I believe global demand for refined products is going to be much higher in 2018 than EIA and IEA are forecasting. My SWAG is that demand will spike by 2.5 MMBbls per day from Q1 to Q2 and it is that spike in demand that send WTI up to $70/bbl.
> We've had two "unplanned supply problems" in December. There will be more.

Read the article above carefully. Goldman has made many $Billions pushing oil prices up and down. AND they want a piece of the Aramco deal. That is the BIG PRIZE in 2018.