Top Oil Traders See Oil Topping $200 By End-2022

Oilprice.com ^ | 3/24/22 | Irena Slov

[hardspunned]

Some of the world’s biggest oil traders expect oil prices to exceed $200 per barrel by the end of the year, the Financial Times reported, citing opinions shared at its Commodity Global Summit this week.

“Wakey, wakey. We are not going back to normal business in a few months,” said Pierre Andurand, who has been super bullish on oil for a while. “I think we’re losing the Russian supply on the European side forever.”

[hardspunned]

We haven’t seen anything yet. It would seem to me that Putin, who will be able to sell anyone, will have become a much more powerful player than before sanctions. His BRICS partners are buying his oil now at a 20% discount. Putin sold oil at $88 a barrel on 2/1 and was rolling in petrodollars. Today, after sanctions, he sells to China at market $122 minus 20% = $97! Do the math on the pain DC will impose on Putin with these sanctions and $200 oil. Compare that to your family’s hemorrhaging at the gas pump for Biden’s $200 oil.

[kiryandil]

said Pierre Andurand, who has been super bullish on oil for a while. “I think we’re losing the Russian supply on the European side forever.”

THAT'S gonna leave a mark...

[nascarnation]

As a retiree I can pretty much reduce my fuel usage in vehicles as much as needed but I feel for folks who have to commute to work.

I suspect gas and grocery prices will be toxic for Democrats in the fall.

[kiryandil]

Don't worry - the US, Qatar and Algeria already have the replacement fuel pumping into Europe.

Oh, wait - no, they don't.  

[DoughtyOne]

Well, we know how the Left works.

At $200.00 a barrel, does Biden nationalize oil companies in
the U. S., because of their profiteering?

In his mind, and the mind of Leftists, they’ll be asking
themselves how oil companies could possibly think it was a
good idea to raise the cost of oil to $200.00 a barrel.

He won’t grasp how the U. S. producing less or not growing at
a normal rate, can affect the global supply, and force higher
prices.

[ProtectOurFreedom]

"I don't care if it IS $200. Let them eat lentils and their pets. Let them drive Teslas! SCREW 'EM -- I'll make it go to THREE HUNDRED dollars!"

[V_TWIN]

Well, it is the plan after all

[kiryandil]

I suspect gas and grocery prices will be toxic for Democrats in the fall.

Good thing we were able to switch our national truck fleet from diesel to unicorn farts before this happened.

If we were still using diesel, diesel price spikes would cause food prices to really skyrocket.

[stormhill]

Oil at $200/barrel.
What gas price does that translate into? Twelve bucks a gallon?

Well, that's alright I guess because, you know. Global warming

[SPDSHDW]

We’ll see a resurgence in steam engines uses by railways.
They can burn waste oil cheaper then buying diesel.
As to the cargo ships, i’m not sure they can be repowered.

[FlyingEagle]

I’m not a biologist, but I’m pretty sure this will be bad.

[packagingguy]

Oil prices won’t hurt the United States. Democrats just today came up with a plan to print more money and give it to people to help pay for gas. Other countries may have oil they are willing to pump, but we have faster printing presses. /sarcasm

[PIF]

Some one here today quoted a $30 bbl price - I forget where ... that may be his costs. Don’t know.

[hardspunned]

How can the west ever go back to doing business with Putin? Putin has been defined as evil incarnate. Heck, it’d be as bad as staying at one of that other evil incarnate guy’s hotels.

[adorno]

Top Oil Traders See Oil Topping $200 By End-2022

With an economic depression to follow.

The economy is suffering right now as it is, with a recession coming on rapidly.

But, we will all feel relief when Biden and democrats (along with a bunch of republicans) sign a bill to give all American drivers a subsidy of 100% towards the purchase of EVs. Tesla stock will be the big winner with its stock rising more than 10,000% in less than a year.

[PIF]

Its over $100 now so say whatever the gas prices is now just double it

[hardspunned]

Never in my life have I seen anything like it. Will it be bread or gas riots first?

[PIF]

If Brandon has his way, we will be buying Pootie’s oil transshipped to Iran and Venezuela.

[Mark]

Here SO CA now over 6.00 gal gas.