Investors are worrying too much says Goldman Sachs. The degree of slowdown in global growth expectations is unwarranted and production losses in 2019 are already larger than predicted, the bank said. WTI Crude is $53.78; Brent is $63.41 this morning.
The Russians said in December it was highly unlikely OPEC and other oil producers would set up a joint structure due to the additional red tape it would create, as well as the risk of U.S. sanctions against monopolies. WTI crude is $53.19; Brent is $62.62 this morning.
Analysts say the United States could produce as much as 15 million bopd of crude and up to 20 million bopd of total oil liquids, giving it complete self-sufficiency as it would fully cover its consumption of 18-19 million bopd. WTI Crude is $52.28; Brent is $61.91 this morning.
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