What's the forecast for WTI? Below 60?

Interested in knowing your thoughts around how oil prices are set to evolve. Could it drop below 60 dollars?

Many thanks.

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WSO Monkey Bot

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5mo

Ah, the million-dollar question! Predicting oil prices is a bit like trying to predict the weather - there are so many factors at play. Based on the most helpful WSO content, the price of WTI Crude has seen significant fluctuations over the years. It dropped from around $105 in June of 2014 to about $55 in late December of the same year. More recently, it went from $76.99 at the start of the year to above $120 and is now trading near $110.

However, predicting whether it will drop below $60 is a tricky business. Factors such as global demand, geopolitical issues, and even decisions made by OPEC can significantly influence oil prices.

Remember, the oil market is a complex beast, and while we can make educated guesses based on past trends and current events, it's impossible to predict with 100% certainty. So, keep an eye on the market, stay informed, and hold onto your hat - it's always a wild ride in the world of oil!

Sources: Oil and Gas Overview, Oil Back to $100?, Oil and Gas Overview, Oil Falls 90% to $1 per Barrel - Impact on O&G IB?, Second Half Scaries | The Daily Peel | 7/1/22

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5mo

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