Thursday, January 13, 2022

Prognostications -- January 13, 2022

Today: EIA forecasts crude oil prices will fall in 2022 and 2023


For all that talk of $100-oil and shortage of oil this summer, I just don't see it. Most credible analysts suggest the price of oil is currently at its peak and will gradually drop back to the $70 - $80 range in the near term, and back to $70 - $75 in the longer term (2023).

Link to Irina Slav, by this summer, the US will producing almost 2 million bopd more than needed:

From the EIA:

From an earlier post: 

Take On Me

Take On Me, A-Ha

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