I have been away due to some health issues but now as I have recovered considerably...time is ripe to start anew.
Interesting times for oil markets. While the prices hinge on a certain level the opinions and possibilities are, on the contrary, galore! Where will oil go from here? ( @William Edwards---your insightful comments are required! )
Will it head further north ( @Tom Kirkman--- Your prognostication was true! What fate do you see for the prices now? ) or decide to settle down a little lower? ( @Marina Schwarz---"Oil at $40", very interesting indeed! So you don't see a supply shock ) OR will it settle at all? ( @ATK, @ceo_energemsier, @Top Oil Trader, @Keven Tan---let's explore! )
Among the cacophony of factors 'concerns regarding future supply' remain a common theme. Below is an article presents a good overview vis a vis Shale production.
In my view, Brent needs to stay at or below $70 and WTI needs to stay closer to $50 or else the oil price rollercoaster will start up again.
● $60+ WTI is unsustainable, in my view. $50-ish seems to be the Goldilocks zone for WTI.
● $75+ Brent is unsustainable, in my view. $70.00 seems to be the perfect, magical Goldilocks zone for Brent.
Moving too much higher or too much lower from these numbers for WTI and Brent will likely throw out of whack the current, wonderful, suitable balance between most oil producers and most oil consumers.
Oil Traders and oil producers, please don't get greedy and mess everything up.
Remember not long ago, the mantra of oil prices being "lower for longer" and "$40 forever"?
Those mantras just a few years ago were the direct result of oil producers and oil traders getting too damn greedy and choking the oily goose for a few years.
● $70 Brent and $50 WTI, please.
● Balanced, suitable, optimum, please.