When Will Oil Prices Spike Next?

So, some analysts are not happy enough with Brent at $70 and are predicting a major price spike in the observable future brought about by demand that exceeds expectations and tight supply because of that infamous one trillion dollars in investments never made because of the last price crisis. What these forecasts seem to omit, consciously or not, I think is other trends in other industries. Like, the more expensive oil is, the more people will bet on solar and EVs, as we have already seen. But they keep expecting oil at $3000 or something.

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Robert Raymond today saying that demand is actually going to overtake supply, and he's calling $65-$75 oil:

"U.S. shale guys cannot carry the global supply curve," said Raymond. "The industry needs to get back on its feet, and it needs to start drilling wells and figuring out how to grow supply beyond just the United States and U.S. shale."

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Another one in the bull corner. Some are warning that a correction is coming since prices shot up too fast too high. Makes sense.

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