When the so-called experts make such bold predictions, it usually means the opposite will occur, in the very near future.
A little nuke dropped on Mecca can change that overnight.
Apache has just ‘discovered’ a nice patch[2 Bil barrels] around Alpine. Beautiful country.
so, when will it hit $55/bbl again? Any prediction?
Oh no! Crude going to $150! Gartman is only useful as a contrary indicator. Just do the opposite of what he says and there is $$ to be made. I used to subscribe to his service.
I told people this years ago when this stuff was selling at over $100 a bbl.. it was caused by manipulation, not by lack of supply.. contract churners driving up the price for profit.... Its a $40 a bbl commodity all day long, always has been.. and with the US needing to import less and less of it every year, its value going down, not up.