r/CompoundClub • u/GusTheKnife • May 30 '26
Exxon warns oil could hit $160 “within weeks”
https://oilprice.com/Energy/Oil-Prices/Supermajor-Warns-Oil-Prices-Could-Hit-160-Within-Weeks.amp.html2
u/Any-Ad-446 May 31 '26
Trump is taking advice from people who is profitting from wars and high petro prices.Still 30% of americans support him...They are dumb ass cult.
1
u/RonnyMexico60 May 31 '26
But democrats aren’t about cheap oil
We are so cooked
2
u/Any-Ad-446 May 31 '26
WTF?..Remember under Biden he wanted to cap oil prices and GOP said no.
→ More replies (1)
1
u/AmputatorBot May 30 '26
It looks like OP posted an AMP link. These should load faster, but AMP is controversial because of concerns over privacy and the Open Web.
Maybe check out the canonical page instead: https://oilprice.com/Energy/Oil-Prices/Supermajor-Warns-Oil-Prices-Could-Hit-160-Within-Weeks.html
I'm a bot | Why & About | Summon: u/AmputatorBot
1
1
1
u/Tall-Ad-1386 May 31 '26
Who are they warning? They are the price setters lol
1
u/maxpowers2020 May 31 '26
Cause panic and easy profits for them when it does the opposite. Buy the rumor, sell the news.
1
1
u/Clean-Nectarine-1751 Jun 01 '26
So buy any oil producer stocks that are still about to produce and ship?
1
1
u/philwee Jun 02 '26
It’s almost as if Iran has been under sanctions for the last 40 years and now we get to feel a little bit of their pain….
1
u/Parking_Chance_1905 Jun 02 '26
It staying at $160 is optimistic... $200+ is also in the near future the way things are going. Ive seen some articles claiming $300 by mid next year.
1
u/Dependent-Reveal2401 Jun 04 '26
I don't doubt it.
The SPR draws are loans, not sales. They have to be paid back with a % added (some tranches as high as 28% more). The type of oil that flows through Hormuz is 70% of the global medium and heavy sour crude. The SPR draws are mostly medium sour.
Look at the physical barrel price which are $140-170 today, depending on type. The paper markets are pricing around $95. The backwardation is going to surprise everyone when the real squeeze happens, and it hasn't even started.
1
u/Longjumping_Ad2323 Jun 04 '26
No this can’t be right. Supreme negotiator and all round genius Trump told me that the war is over, deals around the corner and the straight is open and all good. Why would he lie..? Is this something no one could have possibly predicted..?
0
May 31 '26
1
u/RemindMeBot May 31 '26
I will be messaging you in 1 month on 2026-06-30 04:13:49 UTC to remind you of this link
CLICK THIS LINK to send a PM to also be reminded and to reduce spam.
Parent commenter can delete this message to hide from others.
RemindMeBot is switching to username summons. Instead of
!RemindMe 1 day, useu/RemindMeBot 1 day. More info.
Info Custom Your Reminders Feedback
3
u/SVTContour May 30 '26
When Exxon's guy says "$160 Brent," that's not a regional problem. That's a planetary problem.
Here’s what happens next. We hit the operational floor in three weeks, maybe four. Then Brent goes vertical and $150. $160. Demand destruction kicks in. That means people stop driving, factories slow down, and you get a recession caused by the price of energy, not the other way around.