Biden Blasts “Short-Sighted” OPEC+ Cut, Blames US Energy Firms For Surging Pump Prices

“We’re now steering down into a much tighter oil market for the remainder of 4Q 2022, in particular December 2022, where we could see a split from a surplus to draws,” Dickson said.

He also pointed out:

“OPEC+ could in fact sort of unintentionally spur a bit of a supercycle in pricing and this is a bit of a precarious situation to put the market into”.

So is brent headed back over $100 a barrel?

Yet, as of this writing the CL Futures are only up about $2. So much for the panic buying.

According to our Price/Time calculations, the following will unfold in the oil markets over the next few years…….

Our TIME calculations suggest CL will put in an important bottom early next year.
Once the bottom is put in place, CL will stage a rather powerful rally into 2024-2025.
It will top and bottom at associated regions shown on the charts below.

The above analysis is long-term in its nature. It is possible to narrow down time/price variables as we get closer to our turning points and/or even predict short-term movements going into them. If you would like to find out the exact DATES and PRICES for these anticipated tops and bottoms in CL, please Click Here

Chart 1: Associated TIME variables for upcoming bottom and top.