Meanwhile, Courvalin expects restrictions that were hurting air travel to ease.
Air travel has been slow to recover, in part because of Asia, he said. "Until very recently, countries like Australia, New Zealand Singapore, were very aggressive on limiting international transfer. That's easing," he said. "We'll have to wait for this wave to pass but that suggests that international travel should recover further next year," he said, predicting that oil prices will be at $85 per barrel for 2022, with an upside risk that prices could go $5 to $10 higher.Courvalin said he would not rule out the possibility of oil prices hitting $100, and there are "two paths" that could lead to that.
The first is that costs go up as oil companies ramp up production. "There's inflation, everywhere else in the economy, and eventually there's inflation in oil services," he said. The other possibility is if the supply of oil can't meet the demand as global economies reopen from the pandemic.
Someone should tell Cramer…. He said oil was dead and to sell $OXY while you can at $10
Supply and demand - if the OPEC mafia pumps more, oil prices fall. But why would they?
In other words GS has long oil positions they’d like to unload on retail investors
They say that and of course it goes up. But with that price supply is bound to increase. So it will balance out.
Let's Go Brandon !
Errrr...any good news for the rest of the day?
Why not $200?