What's the forecast for WTI? Below 60?
Interested in knowing your thoughts around how oil prices are set to evolve. Could it drop below 60 dollars?
Many thanks.
Interested in knowing your thoughts around how oil prices are set to evolve. Could it drop below 60 dollars?
Many thanks.
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Ah, the million-dollar question! Predicting oil prices is a bit like trying to predict the weather - there are so many factors at play. Based on the most helpful WSO content, the price of WTI Crude has seen significant fluctuations over the years. It dropped from around $105 in June of 2014 to about $55 in late December of the same year. More recently, it went from $76.99 at the start of the year to above $120 and is now trading near $110.
However, predicting whether it will drop below $60 is a tricky business. Factors such as global demand, geopolitical issues, and even decisions made by OPEC can significantly influence oil prices.
Remember, the oil market is a complex beast, and while we can make educated guesses based on past trends and current events, it's impossible to predict with 100% certainty. So, keep an eye on the market, stay informed, and hold onto your hat - it's always a wild ride in the world of oil!
Sources: Oil and Gas Overview, Oil Back to $100?, Oil and Gas Overview, Oil Falls 90% to $1 per Barrel - Impact on O&G IB?, Second Half Scaries | The Daily Peel | 7/1/22
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