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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?


To: isopatch who wrote (1358326)5/12/2022 11:28:02 AM
From: rdkflorida2  Read Replies (1) | Respond to of 1571806
 
Supply and demand. Simple thing. Crude oil production in 2020 was 11.28 million bpd. 2022 now at 11.91. In 2020 crude oil was around $40 pbl. Crude production today is UP from 2020 and pbl price is around $100. The economy is recovering at a faster pace then crude production. It take about 8-12 months to get rigs back up and running. Also, after Putin is gone (one can hope soon), the pbl price should drop dramatically. $65 plus or minus is my WAG. TWT