Josef Schachter Oil Price Forecast: $90WTI by Q4 2025
Posted: Fri Jan 03, 2025 2:50 pm
https://www.youtube.com/watch?v=F-0sveLp0KM
Major point:
> U.S. oil demand going up.
> China & Other Asia demand going up.
> U.S. oil production will stay flat in 2025.
> Wild Card: Biden trying to block offshore drilling, would raise oil prices.
> Upstream companies will NOT INCREASE DRILLING BUDGET with oil in the $70s.
> Geopolitics Bullish for oil: Trump likely to enforce sanctions against Iran and Venezuela
> Tariffs on Canadian oil won't happen because it would increase gasoline prices in the U.S. by up to 25%.
> Bounce back from December's Tax Loss Selling should push up energy sector stock prices higher in January.
> Western Canada's NGas Price: Cold Winter and 2 Bcfpd LNG export capacity from Canada's West Coast coming online mid-2025 should push Canada's natural gas price back over $2.50Cdn.
Major point:
> U.S. oil demand going up.
> China & Other Asia demand going up.
> U.S. oil production will stay flat in 2025.
> Wild Card: Biden trying to block offshore drilling, would raise oil prices.
> Upstream companies will NOT INCREASE DRILLING BUDGET with oil in the $70s.
> Geopolitics Bullish for oil: Trump likely to enforce sanctions against Iran and Venezuela
> Tariffs on Canadian oil won't happen because it would increase gasoline prices in the U.S. by up to 25%.
> Bounce back from December's Tax Loss Selling should push up energy sector stock prices higher in January.
> Western Canada's NGas Price: Cold Winter and 2 Bcfpd LNG export capacity from Canada's West Coast coming online mid-2025 should push Canada's natural gas price back over $2.50Cdn.