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Head of a large US shale firm forecasts oil as high as US$100 this year

Scott Sheffield is the chief executive officer of large shale firm Pioneer Natural Resources. He is forecasting crude between $80 - $100 for the balance of this year. Citing:Demand rising faster than supplySupply factors:Global oil inventories will fall through year-endSaudi Arabia could extend its 1 million barrel-a-day cutDemand:A soft landing for the U.S. economy could help fuel overall demandRecent weak oil prices have hit drilling, completion of new oil wells as US shale producers curb spen... Read More

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Posted: Aug 2 2023, 21:25

Author Name: forexlive

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