Oil Price forecasts - $100 oil is the "New Normal" by Dec

[dan_s]

It should now be obvious that OPEC has ZERO spare capacity.
$115/bbl forecast: https://www.youtube.com/watch?v=SQY07yljLqw

Goldman Sachs says $130/bbl Brent by year-end: https://www.youtube.com/watch?v=pA1nNJ4_uAA
> Diesel demand going up for crop harvesting and we still have not solved the supply chain issues.
> Heating oil inventories are too low and demand will soon go a lot higher
> China's Covid lockdowns can't last forever.

Bloomberg says $110/bbl: https://www.youtube.com/watch?v=S82_hKSLNKA
> OPEC has NO SPARE CAPACITY
> Draining SPRs must stop soon
> 2023 is setting up to be strong for oil demand with Chinese and Jet Fuel demand going up.
> $80 possible in near-term due to million bpd of SPR oil, but rebound to over $100/bbl when SPR draws end.
> "Argument for $100/bbl to be sustained for several years is easy to make, but anything over $150/bbl is unsustainable because it will lower demand."
> Refinery maintenance in Sept/Oct will lower crude oil demand, but make refined production inventories go down to even more dangerous levels.