USOI - Oil Update - February 2019
My forecast for March is that the West Texas Intermediate oil price will range between $55 and $65 per barrel. The range is five dollars higher than last month's forecast.
I have raised my target range because of the ongoing problems in Venezuela, the progress that the US and China are making toward some sort of a deal, and OPEC+'s determination to reduce oil exports. An excerpt from the February 12 Financial Times article "Saudi Arabia goes on the hunt for global oil and gas" states the following:
The kingdom and Russia are leading global