Helima Croft, head of global commodity strategy at RBC Capital Markets, discusses where the oil price might go in the weeks and months ahead, and how OPEC+ and Saudi Arabia are reacting to the oil markets.
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3 Comments
Oil $200+ by 2026. Heard it here first.
But, but Trudeau said we don't need it. Smh.
Crude Oil Prices will reach $100.00 a barrel sometime soon (A Psychological Threshold in the energy markets), which also will push the gas prices higher at the pumps ($2.70 – $3.00 a liter) and pain to start again if this trend continues which is highly likely that would be the case, it will push inflation higher, and so the interest rates and mortgage rates.
Thanks to the recent Russia – Saudis Oil Production Cut deal.
October rate hike and possibly a December rate hike are on the cards.
We will be expecting a double-digit inflation rate by mid-next year if not, sooner.
and if this trend continues well in the future, we're looking at HIGHER rates in 2024, 2025, 2026, and possibly beyond.
Be Warned and well Prepared, about the increase in food prices, rents, mortgage payments, goods, services, and TAXES that will affect every household in Canada.
NO RATE CUTS anytime time soon or at least for a decade or longer.
Even if there is a rate cut or two, it will go back up again to way higher rates.
Inflation is here to stay for decades if not, for generations. (Geopolitical factors, a new reality, starting a New Cold War with China, Russia and BRICS nations)