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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The expectations of oil giants and speculators suggest that oil will rise to $ 100

    Rocky
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    • Post n°1

    The expectations of oil giants and speculators suggest that oil will rise to $ 100 Empty The expectations of oil giants and speculators suggest that oil will rise to $ 100

    Post by Rocky Sun 27 Jun 2021, 7:04 am

    The expectations of oil giants and speculators suggest that oil will rise to $ 100

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    The heads of some of the world's largest oil companies have said that crude oil
     prices are likely to continue rising, as the lack of investment will reduce supply in the future.
    The executives of Royal Deutsche Shell Plc and Total Energy SE have joined major commodity speculators and banks in forecasting oil to rise to $100 a barrel, although they also predicted that volatile markets could push prices lower again. .

    Exacerbation of supply scarcity

    For his part, Darren Woods, CEO of ExxonMobil Corp., believes that the lack of investment "will exacerbate the tightening of supply versus demand as economies recover again, and then in due course we will witness a recovery in supply and rebalancing," adding during his speech at Qatar Economic Forum, “Higher prices likely in the shorter term” are most likely.
    Trading group Trafigura Group said oil could exceed $100 a barrel over the next year. Bank of America Corp. also predicted this week that prices may jump to this level, and Goldman Sachs Group Inc. is not ruling that out, according to what it announced.

    44% gain in 2021 خلال

    Oil is up 44% this year as vaccinations become more widespread and demand increases. The price of benchmark Brent crude changed slightly at 2:55 pm New York time, achieving $74.90 a barrel.

    2020 is the most turbulent year in the history of oil markets

    The global oil markets experienced one of the most turbulent years in history over the past year, as the outbreak of the Corona virus epidemic led to a collapse in prices.
    But economies in the West are starting to grow again, roads in Europe and the United States are starting to fill up, and more Americans are flying. While this could push prices higher in the near term, the energy transition means oil consumption could start to level off and eventually decline in the long term.
    At the same event, Qatari Energy Minister Saad al-Kaabi expressed his belief that the energy transition means that there is not enough investment in oil and gas projects, and this may lead to higher prices.
    According to Bernard Looney, CEO of BP, BP; Higher crude oil prices will help the company's energy transition plans, and generate better cash flows and returns for shareholders.
    Patrick Pouyanne, CEO of Total Energy, noted that there is a "high chance" of reaching $100 a barrel, "but we could see again in the coming years some lower prices." He continued, “We are used to the ups and downs.”
    It is noteworthy that the Ministry of Commerce and Industry, the Investment Promotion Agency, and Qatar Media City are the organizers of the Qatar Economic Forum, with the support of Bloomberg Agency.
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