Any correction is possible in WTI Crude oil price?

[IARK 0]

Crude prices gone up by 3.80% on Friday. Is there any redection in price is possible? Any signals.... or any news ...

[Gerry Maddoux + 3,627]

The only news I have is that a) 28 frackers have gone bankrupt this year, b) $137 billion in oil company junk bonds come due 2020-2022, c) the Saudis probably haven't fixed their damage, d) Nobody wanted to bid on the Buzios, which was a $50 billion offering off the fairly safe coast of Brazil, e) they say exploration has been very low, f) the IMO-2020 begins January 1, and g) renewables have a long way to go. All that said, I think we're already in the early throes of a global recession. If so, and if the trade war with China doesn't get fixed, WTI will probably dip into the forties again, before rising in 2021. Every person has to read the tea leaves his or her way. That's the way I read mine.