Brent at 100 Dollars .....11 Jan 2022 21:29
When you think that 60% of oil is used for transportation and I guess one day it will be in the form of Electric cars or Heidrogen, but, that will only happen in decades to come.... You have to understand that the fear of peak demand, is leading to the reality of peak supply that we see now. What I am trying to say is fear of demand in ten to fifteen years and the oil price at that time is impacting oil investment decisions today by some oil companies, that is in turn impacting decisions today.
This ignorance is why we are facing an energy supply crisis now and this is the reason why we will see all time high Oil prices over the next few years.
The oil market remains very tight, oil demand is back to pre covid levels. Just think when jet fuel demand rises as omicron passes. We have coming one of the most Bullish events at the end of this year that we have seen for many many decades.
Fundamentally we will be looking at 100 Dollar Oil end of this year when you look at inventories relative to the massive demand we will see.
For Union Jack Oil and all of our producing assets, including of course the mighty Wressle, this will represent incredible income.
Superb RNS today with yet another milestone reached at Wressle passing the US$2,000,000 Net Revenues Landmark - there will plenty more RNSs from where that came from for many many millions of pounds.
GLA