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JP Morgan on oil - wary of diminished incentivization driving a spike to US $100 / barrel

JP Morgan on oil - wary of diminished incentivization driving a spike to US $100 / barrel

News
Eamonn Sheridan
17/07/2024 | 21:59 GMT
  • Say equilibrium is around &70

Via a note from JPM on oil ICYMI:

  • estimate the equilibrium price of WTI oil at around $70/bbl
  • even at $60/bbl, WTI prices are too low to incentivize production, potentially leading to a spike to $100/bbl in following year
a red steel barrel of oil riding on a rollercoaster

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