Forget Short-Term Noise: Oil Prices Are All About the Long-Term Trend

Well, it is year end 2024, time for all respectable pundits to earn their keep by making predictions or by bloviating on the latest topic somebody has latched onto. So, we approached our favorite pundit, Mr. Question Man, to make his contribution to popular seasonal wisdom. Here is the interview.Q: What is the direction of oil prices and does it matter? A: You remember the comment by John Kenneth Galbraith about economists making projections? He said that their only value was to make astrologers look good. However, I will answer. Oil prices will…