Oil Will Stay Above $100

🛢 🛢 Nearly two years have passed since U.S. benchmark West Texas Intermediate oil settled below zero dollars a barrel
Our Algorithm expects prices to mostly hold above the $100 mark, with the market unlikely to get much help from oil producers who are concerned about another potentially significant decline in prices
An extension of the war and rapidly depleting reserves will likely be the key oil driver for the rest of the year, unless producers can make up the shortfall and compensate for rising demand
The new era of oil—one characterized by less drilling but consistently higher prices—has set up oil services companies for years of strong performance, low debt, and pricing power
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