… [Read more...] about 2023 Year of the Rabbit – The Pause before the Chase
Oil Retests Support in Defiance of Physical Realities
Meanwhile OPEC+ is contemplating cutting production to balance supply and demand in light of the growing risk of recession risk. Saudi Arabia is producing at levels which have never been sustained raising the question of the true spare capacity. Supply risks are rising with tensions continuing in Libya continuing and rising in Iraq. … [Read more...] about Oil Retests Support in Defiance of Physical Realities
Battle Rages between Recession Fears and Supply Side Shortage
2022 Roar of the Tiger Battle rages between Recession Fears and Supply Side Shortages $200 Oil on Track WTI remains bullish long-term supported by strong fundamentalsWTI on track for $200 next year, Potential to retest $85 support Temporary Weakness Caused byIEA members release strategic reserves providing 1mbdpResurgence of Covid lockdowns in … [Read more...] about Battle Rages between Recession Fears and Supply Side Shortage
Battle of the Tiger
Battle rages between Recession Fears and Supply Side Shortages $200 Oil on Track WTI remains bullish long-term supported by strong fundamentalsWTI on track for $200 next year, Potential to retest $85 support Temporary Weakness (Support at $85/bbl followed by $77) Caused byIEA members release strategic reserves providing 1mbdpResurgence of Covid lockdowns in … [Read more...] about Battle of the Tiger
