JP Morgan says oil could hit $150 a barrel
“OPEC+ – the combo of the Organization of the Petroleum Exporting Countries and other major producers, including Russia – ‘has returned to a position of positive leverage, which it will defend by keeping inventories low, the market in balance and taking action to support optimal reservoir management through paced volume growth,’ the analysts said in a Monday note.”
USAGOLD note: If $150 oil becomes a reality, expect inflation to kick into high gear. Energy is a component of pricing for just about everything – and on a global basis.
Chart courtesy of TradingEconomics.com