Oil News Predictions4 Oct 2018 19:44
With the oil price set to spiral 100$ a barrel is a distinct possibility here is the thoughts of the professionals remember at 100$ a barrel ceo of Angus values his company at 7p at current oil price. we intend and look to achieve over 1000s at worst case scenario on 1 well understand that and you can see as soon as flow test confirm anywhere near 1000 a day we will see a very good company emerge. some info to support 100$ coming soon.
Winter approaching
Early purchases of oil to meet winter needs, and traders betting that the supply of oil may not be enough to meet demand in coming months, have perhaps injected momentum to the upward trend. Declining oil production in Nigeria and Angola hasn’t helped but the declines are most likely temporary. However, cuts in crude production in Venezuela will not be easily or speedily rectified and certainly not before the year-end. Simultaneously, the return of ISIS to Libya threatens a repeat of the large outages experienced last June, which, if not permanent could be extremely damaging to world supplies.