OP: $180 billion and counting – what’s next for US shale M&A?
Oilprice.com‘s Tom Kool email to readers today: WTI crude is soaring back toward $80 per barrel ...
MarketWatch reports:
Goldman Sachs has boosted its oil price target to $90, citing the lingering impact of Hurricane Ida on supply while demand ramps up, particularly in COVID-averse Asia.
Analysts led by Damien Courvalin lifted their year-end forecast on Brent crude-oil to $90 from $80.
Hurricane Ida should prove to be the most bullish hurricane in U.S. history, cancelling the ramp-up in OPEC+ output since July.
At the same time, global oil demand is back to converging to pre-COVID levels. Traffic congestion in China quickly recovered after a summer dip. The Delta-driven decline in global flights was smaller than the analysts initially feared.
Brent crude futures BRN00, +1.27% rose 1% to $78.12 per barrel, and the West Texas Intermediate contract CL.1, +1.24% added 1% to $74.79…
The full post is here.
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