Fresh off making a record $4 billion profit in 2021 (per Reuters), analysts at Vitol, the world’s largest energy trader, are warning of more imminent upside ahead in oil prices.
Although already up massively, a price for oil of under $115 per barrel makes no sense considering the current catalysts that are at play.
Biden’s plan to release hundreds of millions of barrels this summer will do too little, too late “aT tHe PuMP”.
- The Shanghai situation
- The war in Ukraine
- The Iran Deal
And many other reasons.