RE: Future oil price article from ii22 Sep 2021 12:02
That's a good chart. If you look at the 2008, 2014 and 2018 pull backs from that line on the monthly they are sharp and severe. At the moment we have been hanging on the line for a while, maybe implying a break up is in the off-ing. I believe if it goes it will really run north and all the fundamentals point north. In my mind those fundamentals are increased industrialisation in the east (not east anglia btw (lol)), a rising middle class and a lack of investment in oil. Obviously the green agenda puts a dampener on oil company share prices but it cannot hold back the price of a barrel, that comes down to supply and demand. The chart shows we are entering an interesting phase and I imagine the game will play out this quarter. I'm still invested here but not as much as when it was in the teens, I had too much riding on it then and the old ticker didn't enjoy it.