Oil Price Forecast - Feb 16
Posted: Fri Feb 16, 2024 12:14 pm
Quote below is from Keith Kohl, the oil & gas expert at "Energy & Capital".
"Due to the convergence of three powerful economic triggers, I believe we’re on the cusp of a multi-year bull market in oil. Not only will crude oil prices soar, but my research indicates they will not come back down for years. Most Americans will be blindsided as prices for fuel and everyday goods reach unprecedented heights. But for smart investors who know what to do, this is a rare opportunity."
MY TAKES:
> Today we have a global diesel shortage, that will get serious when the planting season begins. Farm equipment runs on diesel.
> Per EIA, U.S. oil production growth has slowed significantly and may peak and roll over late this year. < A major Paradigm Shift for most people.
> IEA continues to under-estimate oil demand growth.
> The shooting war in the Middle East seems to be getting worse to me.
"Due to the convergence of three powerful economic triggers, I believe we’re on the cusp of a multi-year bull market in oil. Not only will crude oil prices soar, but my research indicates they will not come back down for years. Most Americans will be blindsided as prices for fuel and everyday goods reach unprecedented heights. But for smart investors who know what to do, this is a rare opportunity."
MY TAKES:
> Today we have a global diesel shortage, that will get serious when the planting season begins. Farm equipment runs on diesel.
> Per EIA, U.S. oil production growth has slowed significantly and may peak and roll over late this year. < A major Paradigm Shift for most people.
> IEA continues to under-estimate oil demand growth.
> The shooting war in the Middle East seems to be getting worse to me.