Will Russia Force Oil Price to Near $400?

July 31, 2022/in /by Rudolf Huber

400? No. Russia has done what it has done and there is very little left as anything they do now would curtail their own production and start damaging their upstream. Also, the world starts to go into the recession it has built up for decades now and we won’t get out of it for real very fast. It took us a while to get in so no quick fixes here. Of course, the pundits will tweak the figures and paper over the cracks but we had done that for decades now and it wears thin. The world is in for a massive recession – no place for 400 USD oil.

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