Oil Price Forecast - Jan 14

[dan_s]

Robert Rapier (an EPG member) predicts oil will top $70/bbl in 2019.

The diesel premium over gasoline will at least double in 2019.
"One issue that hasn’t gotten nearly enough attention in my view is the impact of a pending deadline that will impact the fuel markets. On January 1, 2020, the International Maritime Organization (IMO) will require the sulfur content in marine fuel to drop from a maximum of 3.5% down to 0.5%. The result is likely to be a spike in the price of low-sulfur marine fuels, which will likely impact several types of fuel. Prices for low-sulfur crude oils will likely expand their premium over high-sulfur crudes, and diesel will likely get more expensive compared to gasoline."

All of Robert's Predictions: https://finance.yahoo.com/news/could-oi ... 00052.html

My forecast is $60/bbl WTI by June. Where it goes from there depends on OPEC+ and global demand this summer. If Trump gets a trade agreement with China, I think we might see WTI pushing $75 by Q4.