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Egyptian Billionaires and Energy Journalist are now projecting $100 bbl oil. Will they ever learn ?

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(edited)

Oil billionaires .  .  .  

https://www.cnbc.com/video/2020/05/06/oil-prices-could-hit-100-in-next-18-months-naguib-sawiris.html

Energy Journalist . .. .. ..  

https://oilprice.com/Energy/Oil-Prices/This-Could-Be-The-Beginning-Of-A-Tremendous-Oil-Rally.html

 

Turning Shale production off and on is easy as turning your TV on and off.  Granted some major oil projects have been delayed and it may have some effect depending on how long Covid hangs around. 

Without a major disruption like a ME conflict that shuts in Oil production and EXPORTS we will never see $100 oil.  

As Covid-19 fades oil will continue to rebound.  Before Covid reared its head oil was trading in the low $50s.  

Edited by BLA

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