“Oil: ‘We’re going to see $65 before we see $100 ‘ in WTI, says analyst”
October 6, 2022
“OPEC+ will cut oil production by 2 million barrels per day amid looming demand concerns and the ongoing friction between the West and Russia over the war in Ukraine…
“It is OPEC that is going to be controlling the price. But if we get the global recessions that are being predicted, you’re going to get a continued fall in demand because this particular cut is going to last all the way into December 2023,” he predicted.
“I think OPEC wants to see $100 barrel crude oil. I still think we’re going to see $65 before we see $100 in the WTI crude oil market,” he [Bob Iaccino] added…”