Oil Could Crash to $60, But Diesel May Stay Expensive

Real Vision • 6 days ago

Original source

What This Video Is About

The speaker discusses their outlook on oil prices, noting that their initial prediction of $45 per barrel Brent in January is no longer relevant. The current market situation and potential scenarios that could affect oil prices are also discussed.

Major Ideas Discussed

  • The oversupply may re-emerge next year, but it's unlikely to lead to a quick drop to $55 per barrel.
  • The price is expected to drift back down to the $60s by the end of next year, assuming the war ends.
  • The situation in Russia and Ukraine not being resolved could lead to continued market volatility.
  • The Houthis harassing Red Sea refineries could impact diesel prices.
  • A potential scenario where Brent crude oil prices remain around $60, but diesel prices reach $100 per barrel due to geopolitical factors.

What to Watch Next

The speaker believes it's worth monitoring the situation in Russia and Ukraine, as well as the activities of the Houthis in the Red Sea, as these factors could significantly impact oil prices.