Brent oil quotes by 70% won back the catastrophic fall of last year, when prices fell from $ 70 per barrel to 17 evergreen per barrel. Then it seemed - rashkafse. But suddenly it turned out that everything was not so simple, Russia drew conclusions from the oil war of the 70s, and as a result, camel drivers suffered the most from the oil conspiracy.
If the oil price stayed below $ 20 per barrel for another three or four months, or even six months, the sheikhs would really switch from Rolls-Royces to camels again. Their grandfathers and great-grandfathers cut through the desert in this particular type of transport, and did not complain. Cheap and cheerful. While it's cheap as you look at it, a good camel costs good money there.
Then the Yankees came in and offered a deal. Oil in exchange for green papers, and green papers must be kept in American banks or in the form of American Depositary Receipt. And for the rest - to get yourself a harem, build a palace, buy each son a limousine, and enjoy life. Who would refuse such an offer ...
Those who refused - turned out to be dictators, suddenly oppressed freedom of speech and democracy, and left this world a violent death.
And oil showed negative rates on WTI oil futures (this means that American oil was not really needed), and slowly crawled to win back positions.
And now a barrel costs $ 58. It is clear that the dollar itself is gnawed at by inflation. Since all of 2020, the United States has been printing candy wrappers at such a speed that they set a world record, eventually printing more cut paper than they have printed in the last 200 years.
Therefore, regardless of the economic situation, in dollar terms, oil will rise in price.
What is the forecast for oil for 2021?
Growth up to $ 100 per barrel. Don't believe me? Remember this post, take a screenshot. So they won't say later that we didn't warn you.