I can’t take any of these clowns seriously anymore. The only point in posting their opinions, which are no better than some random chap on Twitter, is because they tend to make small waves on the day in which they are spouted.
“Given the continued U.S. dollar appreciation, $20-$25 oil price scenarios are possible simply due to currency,” the analysts wrote in the report. “The U.S. dollar and non-fundamental factors continue to drive oil prices.”
All of these analysts were predicting $150 oil forever, just a few years ago. Now they’re all bearish, until they aren’t anymore.
My take is even more severe. I am hoping $15 crude will punch off the faces of every oil man in Saudi Arabia.
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Hahaha… for $15 crude!
But here’s the kicker. If oil ever gets back to the 120s, pump prices will be more than double their high marks.
Just good old-fashioned predatory pricing!