‘Petro-Nations’ need ‘Petro-Dollars’
August 24, 2021 Leave a comment
Keep this in mind when you ponder the price of oil and the supply/demand equation.
And then when you add OPEC+ efforts to machinate a higher price by curtailing output, a nation reliant on oil receipts means oil supply will find its way to the market.
There remains a reasonable case for Brent Crude to visit $64 and failing to hold that, a trip to $57 and $54 are entirely plausible.
More so, watch when a petro-nation panics after having missed out on a selling at $76 per barrel because OPEC botched a manipulation effort trying to send it to $90.
August 24, 2021
by Rob Zdravevski
rob@karriasset.com.au
rob zdravevski's blog 