According to analysts from J.P. Morgan, Brent crude is heading back to $100 a barrel this year if countermeasures to balance Russia’s production cut don’t happen.
Two major pieces of news came out recently that have reinforced the idea that the U.S. has lost a lot of ground when it comes to controlling global energy security. One came as a bit of a shock, while the other was something we saw coming from a mile away.
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I’m going to do something today that most people cannot. Today, I’ll tell you about the future. Now before you start looking for a crystal ball, pouring out your tea leaves, or start looking for some plutonium to fuel the flux capacitor in your DeLorean, you should know that this isn’t some feat of magical foresight everyone should see this one coming.
Over the last few weeks, we’ve been talking about the delusional narrative that the mainstream media has had over the past year, particularly when it came to the supply and demand fundamentals for oil. Whether it was the nonstop battle between the eternal bulls and bears over global demand trends in 2024, or the baffling insistence by certain pundits that U.S. oil production which is already close to all-time highs will continue to push higher.