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I Don't Mean to Be Crude, but Those Bullish Oil Forecasts Are Bull

·4 min read
I Don't Mean to Be Crude, but Those Bullish Oil Forecasts Are Bull

Brent crude has dropped from its highs of $135 a barrel on the spot market back in March as Russia invaded Ukraine and is trading now at $95 a barrel, struggling to hold on to any gains above $100 a barrel. At the time, the entire world was convinced that we were running out of oil due to inefficient policies of western governments toward clean energy transition and sanctions placed on Russian oil. Investment houses euphorically were calling for oil to rally all the way to $150 and even $200 a barrel.