Saturday, January 4, 2025

$100 Oil is a ‘Pipe Dream’, says Wells Fargo Analyst

From MarketWatch Don’t expect oil prices to climb into the triple digits soon. “$100 per barrel oil remains a pipe dream,” for a market suffering from “massive overproduction,” said John LaForge, head of real asset strategy at Wells Fargo, in a recent note. Global oil producers have said that crude production “should crater with prices around $40-$50 per barrel, [but]