Why This Oil Analyst Says Gas Prices May Head Even Higher, And What Will Bring Them Back Down - BitcoinEthereumNews.com
crude.png Do you think that we‘re going to revisit the 2008 highs？You have kind of all these dominoes kind of lining up for us. Yes, [we have] the Russian barrels coming off the market, but at the same time too. You have OPEC, and OPEC plus, essentially the swing supplier of the market. They’re expected to put more oil onto the market when prices get a little bit too racy. But this time around, they‘re really struggling to put more onto the market in a time when it is really needed… we’re a hundred million barrels a day of demand. So as we look at head demanders, looking like its going to continue to grow. Patuloy ang kuwento What needs to happen here to relieve the supply constraints？ I‘m not sure that there’s anything that can be done, aside from the Russian situation, you know, because you‘ve got OPEC plus, and you have Saudi Arabia, who is already exporting about seven million pounds a day. If they’re not incentivized to export more barrels, at $120 per barrel, then nothing is going to incentivize them. The only way that we do see prices come low is from demand destruction, but then again, you know, we‘re