#USOIL #WTI We'll have a long story in the Middle East

١٠ يناير ٢٠٢٠

Lately, this commodity had being driven by fear, threats and uncertainty. The global demand for crude oil in 2019 is about 100.3 million barrels per day and for 2020 is expected an increasing trajectory of 101.6. Now, we have to consider that prices are indicating they may break out of their range if the hostilities in the Middle East escalate further, shale drillers are rushing to hedge their 2020 and 2021 oil output at the higher prices. As usual, I prefer to keep the old lines.

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