$150 Oil Is Still A Distinct Possibility

The European Union seems to be warming to the idea of direct sanctions on Russia’s energy industry, slapping a ban on imports of coal for starters. The United States is releasing 180 million barrels of crude, and several IEA members are releasing another 60+ million barrels. And Saudi Arabia just hiked its prices for all buyers. Much higher oil prices may be around the corner. When a few months ago analysts were seemingly trying to out-forecast each other on crude oil prices, the most commonly cited bullish factors were OPEC+’s unwillingness…