Oil at $300?
The horror: if oil producers don't start investing in new production, crude could hit $300 in a few years, says Pierre Andurand. BUT if prices jump over $100 and quickly this will eliminate the risk of oil at $300.
“So paradoxically these peak demand fears (of the producers) might bring the largest supply shock ever,” he wrote. “If oil prices do not rise fast enough, US$300 oil in a few years is not impossible.”
Funnily enough--or suspiciously enough--Andurand, who wrote these opinion
My view on oil prices are pretty clear. I've been pretty consistent about my views on oil prices since 2015.
But since I'm new to this forum, guess I need to reiterate.
In 2015 and 2016 I commented ad nauseum (mostly on the new defunct Oilpro forum) that I would be happy if oil was a stable average around $50 to $60, but closer to $50.
In 2017, I changed my view and comments to I would be happy if oil was a stable average around $50 to $60, but closer to $60.
This year,
