Oil 12 (Feb 21 - Sep 23)

[winston]

2022 Oil Price Drivers: 7 Catalysts Can Push It Higher, 6 Could Create Pressure

By Ellen R. Wald, Ph.D

7 Things That Could Push Prices Higher
1. Russian Belligerence
2. Saudi Instability
3. Chinese Expansionism
4. U.S. Environmental Regulations And Infrastructure Legislation
5. U.S. Oil Production Numbers
6. Coronavirus
7. Inflation

6 Things That Could Push Prices Lower
1. Diplomatic Relations With Iran
2. Biden Relaxes Regulations
3. Republican Win In November U.S. Elections
4. U.S. Production And Exploration Growth
5. OPEC+
6. China’s Oil Imports

Source: investing.com

https://www.investing.com/analysis/2022 ... s_headline

[winston]

Update

There has been a noticeable shift in sentiment in the oil market, with an increasing number of forecasts stating that demand destruction coming from the Omicron variant would not be as bad as previous variants due to the absence of widespread lockdowns.

Sure enough, cases have been climbing in key areas but governments are reluctant to repeat 2020/2021 policies again.

Oil demand remained solid in December, essentially trending on par with November levels, whilst global manufacturing activity strengthened globally amidst easing supply chain bottlenecks.

Thus, the bullish case for more OPEC+ crude is by no means paradoxical, especially when one considers all the supply-side disruptions in Libya and elsewhere.

As a result, ICE Brent traded moved above the $80 per barrel threshold this week, whilst US benchmark WTI was hovering around $77.5 per barrel.

Source: OilPrice.com

[behappyalways]

Oil Soars To 7 Year High As Goldman Sees Brent Hitting $105 In 2023
https://www.zerohedge.com/markets/oil-s ... g-105-2023

[behappyalways]

The Lone Bear Calling For $65 Oil
https://www.zerohedge.com/markets/lone- ... ing-65-oil

[behappyalways]

Extreme Backwardation Suggests One Of The Tightest Oil Markets Ever
https://www.zerohedge.com/energy/extrem ... rkets-ever

[behappyalways]

Small Frackers Race To Drill As OPEC+ And Big Oil Majors See No Need To Pump Faster
https://www.zerohedge.com/energy/small- ... ump-faster

[behappyalways]

Saudis Warn Of Oil Shortage Shock, Blame "Net Zero" For Underinvestment
https://www.zerohedge.com/markets/saudi ... investment

[behappyalways]

Russia Offers Record Discount For Its Oil As Buyers Pause, Struggle To Finance
https://www.zerohedge.com/energy/oil-bu ... e-invasion

[behappyalways]

BP to Exit Rosneft Stake and May Take a US$25 Billion Hit
https://www.theedgesingapore.com/news/r ... illion-hit

[winston]

JPMorgan Says $185 Oil Is in View If Russian Supply Hit Persists

by Devika Krishna Kumar

66% of Russian oil is struggling to find buyers.

Without a return of Iranian barrels to the market, the bank expects oil prices to average $115 in the second quarter, $105 in the third quarter and $95 by the fourth quarter.

Source: Bloomberg

https://finance.yahoo.com/news/gas-pric ... 33874.html