Greetings PH community, we were talking about oil in the first part, we exposed factors that will surely raise the price and in this publication we will continue to touch on the subject.
A few years ago oil reached zero dollars, something absurd but it happened, even the WIT marked negative figures marked -26 dollars, when this happened many knew that the price would rebound it was even logical to think so because oil is valuable to humanity, that same month already marked positive numbers and at the end of the year the price had recovered, so many investors with a sense of smell made money.
Part of the rapid recovery in the price of oil is due to the Chinese economy, China recovered and with it the price of oil, although everyone knew that oil would recover because the price of 0 dollars was absurd, but nobody knew that in this moment the price would be so high.
The price today exceeds 100 dollars and daily demand is estimated at 99.7 million barrels of oil worldwide, not only did the price recover, but demand also recovered as in 2019, with the recovery of the demand we face a problem because Saudi Arabia and Russia signed an agreement not to increase oil production, a term known as pumping.
This increase in demand has made the price of gasoline in California the highest in the United States. It is possible that the United States supplies the demand with its reserves, since they only buy 700,000 barrels from Russia, so they could buy it from Russia. Canada, but eventually these oil reserves will fall and the price will reach new highs.
All of the above makes it very clear that the price of oil is going to rise to new highs , people are not prepared to pay high prices for gasoline , the economy is not prepared for this , unthinkable negative consequences may come , we can assume that the automotive industry will go electricity and this can offset the price hike that is coming, but the picture does not look good.
