Oil Predictions

Browse Oil market predictions and forecasts from well-known financial commentators. Each prediction is tracked from the date it was published to its estimated deadline, then graded correct or wrong based on the outcome.

83 forecasts 44 commentators 67% accuracy 12 correct 6 wrong 65 pending
83 forecasts
Person Subject Forecast* Source Date Deadline** Outcome
Daniel Lacalle Oil Oil prices will not fall to $50 per barrel, as no financial crisis comparable to 2008 is expected, but the near-term outlook is cautious given deep backwardation.
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[33:37] Would I be long oil at these levels? Not very not not a lot. I would be very very worried about such level of deep backwardation in the forward curve. But that doesn't mean that oil prices are going to go to $50 a barrel. they would only go to 50 if obviously there is a financial crisis as in 2008 and I don't see that happening

Extracted by AI from a YouTube transcript. May be inaccurate or missing context. Verify via source. Send a correction.

Wealthion 2026-05-21 2026-11-21 pending
Jim Bianco Oil Within a couple of weeks to a month, the closure of the Strait of Hormuz will lead to real supply constraints in the oil market
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[8:05] We don't have but a couple of more weeks, maybe a month that we could keep doing that before the the cumulative impact of the straight being closed is going to lead to real supply constraints in the oil market.

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Wealthion 2026-05-20 2026-06-20 pending
David Hunter Oil Crude oil will fall back to the $70s per barrel as the Iran situation resolves
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[28:41] I think we will see oil back down into the 70s based on oil flowing through the straight.

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Kitco NEWS 2026-05-20 2026-12-31 pending
Ted Oakley Oil Oil will see another leg up within the next three to six months as the market realizes supply disruptions are not quickly reversible
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[17:40] once they realize that in the next three or six months, I think you get another leg up on oil because they'll finally figure out that hey, and maybe the straits never go back like they were.

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Kitco NEWS 2026-05-19 2026-11-19 pending
Michael Oliver Oil Oil will pull back into the $80s after its war-driven spike, but remains in a longer-term bull trend
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[25:20] we turned bullish on oil at $65 in January based on momentum... oil is in a bull trend and it occurred before that war started. So when oil drops back down, let's say into the 80s and everybody applauds and says, 'Oh boy, happy time again.'

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Palisade Radio 2026-05-16 2026-12-31 pending
Josh Young Oil Oil (WTI) will reach $150 or higher by end of 2026, with $200-$250 possible before year end
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[25:55] I think I think oil at $150 is much more likely than $60. I think we might not see oil at $60 again until the next very bad recession. So I think I think 150 is in the cards. Frankly, in between now and year end, we could see oil at, like we said, 200, 250.

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The David Lin Report 2026-05-15 2026-12-31 pending
Josh Young Oil Oil (WTI) will reach $250 or higher at the top of the current major cycle
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[10:29] To be clear, the 250 call is not directly from the Strait of Hormuz. Like that may be the trigger. It's more of a cyclical call that cyclicals tend to go to an all-time high inflation-adjusted price at the top of each major cycle and we've been near the bottom of the oil cycle. Maybe the bottom for was 2020 where prices went negative and so after setting up with a unrealistically negative price, I think we're set up for a potentially unrealistically high oil price, 250 or higher.

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The David Lin Report 2026-05-15 2028-12-31 pending
Josh Young Oil Gasoline prices will fall materially relative to oil prices in the near term as refining capacity comes back online
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[19:42] gasoline prices may actually come down a little bit here even as oil rises because we're in turnaround season right now for refiners... you're going to see the gasoline market loosen, and you should see prices fall materially, at least relative to the price of oil, to the extent that the Strait of Hormuz remains closed.

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The David Lin Report 2026-05-15 2026-09-30 pending
Josh Young Oil US oil-directed drilling rig count will rise rapidly, potentially faster than it fell in early-to-mid 2025
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[24:17] the rig count that we're showing is inflecting. And so, it's rising and it's about to rise quite rapidly, uh, perhaps more rapidly than it fell in early and mid 2025.

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The David Lin Report 2026-05-15 2026-12-31 pending
Daniel Dreyfus Oil Oil will average $100 for the rest of 2026
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[20:48] Our our view personally is I think we're going to have, you know, $100 oil on average for the rest of this year.

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In the Money 2026-05-14 2026-12-31 pending
Daniel Dreyfus Oil Oil prices will reach the low triple digits within the next 10 to 15 years
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[27:49] I believe over the next 10 to 15 years if the oil price goes up with you know inflation and and goes up nominally 3 to 5% a year the oil price can be in the low triple digits

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In the Money 2026-05-14 2041-05-14 pending
Doomberg Oil Oil prices will be lower in 12 months from May 2026
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[27:02] Look, I think the direction of travel for oil is lower... do I want to be long the price of oil in 12 months or short it from today? Of course, I'd want to be shorted.

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Palisade Radio 2026-05-14 2027-05-13 pending
Doomberg Oil OPEC will break up
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[36:30] I don't think that OPEC breaking up is the death of the petro dollar. I think it's the death of OPEC. Something we have been calling for and others have been calling for for a long time.

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Palisade Radio 2026-05-14 2028-05-13 pending
David Woo Oil Oil prices will be sharply higher even without resumed fighting, due to depleted global strategic reserves, by around June 2026
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[12:37] even if there's no resumed finding, you're going to see basically this war taking a big knock on the global economy to the extent that oil prices will probably be sharply higher. So, this is the this is why actually, ironically, you know what?

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ITM Trading 2026-05-13 2026-06-30 pending
Hal Kempfer Oil Oil prices will experience a dramatic drop over the next 6 months due to an abundance of oil supply as the Strait of Hormuz situation normalizes
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Kempfer gives his contrarian 6-month forecast for the Strait of Hormuz and explains why investors should actually be preparing for a dramatic drop in oil prices.

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Kitco NEWS 2026-05-13 2026-11-13 pending
George Noble Oil Oil prices will remain higher for longer, with the direction biased to the upside
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[4:28] I think, uh, you know, oil prices were looking at higher for longer. If we use the sports phrase, if we look at the overunder, I'll take the over.

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The David Lin Report 2026-05-12 2027-05-12 pending
Luke Gromen Oil Oil prices will spike to $150-$200 within 1-3 months due to continued Strait of Hormuz disruption
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[14:05] It's going to go from 100 to 150, 180, 200 in a very short period of time. When is that? I don't know. Uh uh 2 months, 3 months, 1 month.

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Palisade Radio 2026-05-12 2026-08-11 pending
Peter Tchir Oil Oil prices will remain higher for longer as the Middle East takes significant time to rebuild energy production, even as near-term front-end prices come down.
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[3:07] yes the front end of oil is coming down. I think we're below 90 or right around 90 um on Thursday on WTI. But I think some of the other longer term contracts are still fairly elevated. So I think we're going to be kind of dealing with this higher for longer. It's going to take a lot of time for the Middle East to rebuild their energy production.

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Thoughtful Money 2026-05-10 2027-05-10 pending
Stefan Rust Oil Oil/gas prices will fall into deflation within six months as UAE's departure from OPEC floods the market with supply
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[14:00] UAE has announced its departure from OPEC. So oil is just going to come onto the market and flood the market um really quickly. So the prices then in six months time should be a reflection and we should be seeing deflation in the gas prices again.

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Wealthion 2026-05-07 2026-11-07 pending
Jesse Felder Oil Oil prices will rise significantly from current levels as they are dramatically undervalued relative to gold and M2
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[17:19] the thought that the oil price is going to stay at record lows relative to M2, relative to gold, relative to anything else and basically stay undervalued persist dramatically undervalued persistently and definitely into the future is probably wishful thinking at best.

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Wealthion 2026-05-06 2028-05-06 pending
Todd Horwitz Oil Oil will fall back into the $60s per barrel before the end of 2026
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[9:51] I would expect to see oil if everything works out properly I would expect to see oil back in the 60s before the year is out. Okay, that's what shows up in the chart. That's what shows up in the in in the formation going out to because in in December oil is under $70 a barrel right now.

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The David Lin Report 2026-05-06 2026-12-31 pending
Douglas Macgregor Oil Oil will reach $150 per barrel before the end of summer 2026 and close to $200 per barrel by end of 2026
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[26:59] And we're looking at $200 a barrel before we're through. I think I think we'll be at 150 before the summer's end and probably by the end of the year close to 200, maybe more.

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Palisade Radio 2026-05-05 2026-12-31 pending
Chris Vermeulen Oil Oil will stay elevated, probably above $88 and around $120
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[24:35] I think oil is going to stay elevated for a while. I think it's going to stay, you know, probably above 88 and and you know, 120.

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Wealthion 2026-05-01 2027-05-01 pending
Danielle DiMartino Booth Oil Oil prices will stay persistently high due to Middle East infrastructure destruction
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[15:16] I understand that oil prices, in fact, I don't think the market is properly pricing in how persistently high interest rates are going to oil prices are going to stay, meaning put upward pressure on goods inflation. I don't think the market is fully priced in the destruction to the infrastructure in the Middle East and how long it's going to take to get energy prices back down.

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The Julia La Roche Show 2026-04-30 2027-04-30 pending
Steve Hanke Oil Oil prices will eventually decline from current levels but will have more spikes in the near term while the strait remains shut
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[19:09] So So what it means is lower oil prices at at some point. Not not right now, by the way. Not right now. Right. Right now, you want to be long because there'll be more spikes as the straight remains shut.

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The David Lin Report 2026-04-30 2027-04-30 pending
Steve Hanke Oil Oil prices will spike higher in the short and intermediate term due to inventory drawdowns and supply constraints.
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[24:02] you want to be long in the short and intermediate run because we we have had the the straight shut off but what's going on is pretty simple economics we've we've had a loss of about 14.5 million barrels a day that that don't that are not coming through, but the demand destruction due to the fact that the price has gone up is has not been that great. And the and the reason that the demand destruction isn't that great is that the price elasticity, the sensitivity of the demand, the quantity demanded of oil to prices is is is pretty sticky. It isn't very sensitive. Price goes up and demand goes down a little bit because of the price movement. You destroy a little demand but not very much. And as a result the you can see this by the way because the inventory drawd down is is about 11 to 12 million barrels a day. So in for in fact the demand destruction because of the price increase has only been about 2 and a half to three and a half million barrels a day. And and and to reach equilibrium they have to be about 14 12. It's it's only about two and a half to three and a half. So what's going to happen? We we're drawing down in price goes up that destroys a little demand and we live off declining inventories. We suck down inventory. Suck down in what happens when the inventories go up. The price jumps up. So we're going to see some price spikes coming. That's why you want to be long oil because because of the inventory draw down.

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ITM Trading 2026-04-29 2027-04-29 pending
Jason Landau Oil Oil will reach $1,000 per barrel
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[10:40] I have a picture of my I think then 5-year-old daughter in front of minus $38 oil and I said show this to your grandkids when you're paying $1,000 a barrel for it.

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In the Money 2026-04-28 2054-04-28 pending
Jason Landau Oil 2027 oil will not go much lower than $73 per barrel
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[14:54] there'll be probably $5 or $10 of premium embedded in price. So as I said 27 oil today is $73. That's a great price. I don't really think it goes much lower

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In the Money 2026-04-28 2027-12-31 pending
Bob Ryan Oil Oil will reach $130 per barrel by the end of May 2026 and $150 per barrel by early second half of 2026
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[23:47] they're they're looking at $130 uh per barrel probably by May and you know, the end of May. Um, and you know, probably by the um by the second half of this year, early into the second half of this year, um you're probably looking at 150 bucks a barrel.

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The David Lin Report 2026-04-28 2026-08-31 pending
Bob Ryan Oil Oil will average around $100 per barrel for the rest of 2026
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[37:16] base case right now um I had you know I haven't updated my uh probability I I'd have to redo my uh priors. I've been waiting for for new data on on oil supply. Uh but um right now we're at like a hundred bucks a barrel uh for the rest of the year on average uh for frontline uh Brent.

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The David Lin Report 2026-04-28 2026-12-31 pending
Bob Ryan Oil The US-Iran standoff will persist into the second half of 2026 and oil prices will move higher to destroy demand
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[0:20] we do see this um standoff between Iran and the US persist into the second half of the year. um and prices really start moving higher to destroy demand.

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The David Lin Report 2026-04-28 2026-12-31 pending
Mike McGlone Oil Oil will drop to closer to $50 by the midterm elections
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[0:07] In that December crude oil future right now, it's $77. I fully expect it to be closer to 50 by the time we get to midterms.

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The David Lin Report 2026-04-24 2026-11-03 pending
Steve Hanke Oil Oil prices will surge at the end of April due to delivery gaps
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[14:25] So I expect another surge in prices for oil at the at the end of this month just just due to that because there'll be a gap of of basically no deliveries

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Palisade Radio 2026-04-23 2026-04-30

The prediction claimed oil prices would surge at the end of April due to delivery gaps; the period high reached $108.6 on April 29 (trading day 4), representing a 13.3% rise from the prediction date price of $95.85, confirming a significant surge occurred within the target window.

Doug Casey Oil Oil will go much higher than $90 per barrel, contradicting market expectations of $70-80 in 6 months
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[10:00] it seems to me that oil is underpriced uh right now at $90 a barrel. If you look at the futures markets, both Brent and uh uh WTI, uh they're in backwardation. In other words, you look at oil several months ahead, it's a lot cheaper than it is on the on on the front month, which seems to be saying that the market thinks that uh oil itself is going to get cheaper. That 6 months from now it's going to be $80 or $70 a barrel, something like that. I don't think so. I think that it's actually going to go much higher

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The David Lin Report 2026-04-21 2026-10-21 pending
Craig Fuller Oil High oil prices are not sustainable long term and will correct
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[25:44] They don't believe high oil prices are sustainable long term because the market will correct as it always does. these geopolitical events always correct themselves

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Thoughtful Money 2026-04-19 2027-04-19 pending
Tyler Rosenlicht Oil Oil futures prices will rise from current levels of $65-70 to around $80
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[27:18] we think the futures prices are going to have to rise. So we think the average oil company is discounting something like 65 or 70 today and they probably should discount something like 80

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In the Money 2026-04-17 2027-04-17 pending
Rick Rule Oil Oil price could easily be $90 a barrel in 2029
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[1:42] I suggested to you that the oil price could easily be $90 a barrel in 2029.

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Palisade Radio 2026-04-17 2029-12-31 pending
John Zechner Oil Oil will settle at $70 a barrel
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[12:50] oil settles $70 a barrel

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In the Money 2026-04-15 2027-04-15 pending
John Zechner Oil Oil will not return to $60-65 per barrel levels
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[11:16] I don't think we are not going back to $60 to $65 a barrel which a lot of these stocks were priced for

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In the Money 2026-04-15 2027-04-15 pending
Dr. Stephen Leeb Oil Oil prices in the US will go up naturally within a week or so
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[24:10] I think in another week or so I think our prices will will naturally grow up go up. I think initially the shortages hit uh uh Asia first.

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Palisade Radio 2026-04-15 2026-04-24

The prediction was that oil prices would go up within a week; CL=F rose 6.1% from $91.29 to $96.89 by the target date, confirming the bullish call.

Ted Oakley Oil Oil prices will remain higher for longer than people expect
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[4:38] I think what you're going to get, David, is it's going to be higher for longer than people expect that it is. [...] we think that oil will continue to be a good something you should look at

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The David Lin Report 2026-04-14 2027-04-14 pending
Rick Rule Oil Oil prices at current levels will likely be present in 2029 due to deferred sustaining capital
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[4:27] looking further out for reasons that you and I discussed as much as a year ago, namely the deferral of a billion dollars a day in sustaining capital, the prices that you see today will likely be present in 2029

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The David Lin Report 2026-04-13 2029-12-31 pending
Brian Belski Oil Oil prices will turn negative on a year-over-year basis within the next few quarters
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[33:00] when you start to see the year-over-year change in oil turn negative, which it's probably going to within the next few quarters

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In the Money 2026-04-10 2027-01-10 pending
David Cervantes Oil Oil will be up by the end of the year from current levels of $100 WTI
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[29:18] I'm inclined to up and the reason is uh these physical shortages they're not going to be resolved... So, the answer is up.

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The David Lin Report 2026-04-10 2026-12-31 pending
Todd Horwitz Oil Oil will be back in the 60s before the third quarter
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[2:43] all things being equal i would think oil will be back in the 60s before the third quarter.

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The David Lin Report 2026-04-08 2026-07-01 pending
Michael Pento Oil Oil will stay around $100 a barrel or higher over the next three weeks
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[8:07] I think it stays around $100 a barrel, maybe even higher depending on how much of the infrastructure they destroy in Iran in these next three weeks.

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Thoughtful Money 2026-04-06 2026-04-27

The prediction claimed oil would stay around $100 or higher over the three-week window, but the period low hit $80.56 on April 17, dropping well below $100 (a ~28% decline from the prediction date price), meaning oil did not stay around $100 or higher throughout the period.

Peter Berezin Oil Oil prices will not go back to February 2026 levels even if the war ends
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[14:48] Even if the war ends, we know that a lot of uh countries are going to be looking to increase their stockpiles of oil. So, they'll still be buying for that uh reason. It'll probably still be a geopolitical risk premium associated with oil. So prices could fall enough to help us avoid a recession, but they're not going back to where they were in February.

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The David Lin Report 2026-04-03 2027-04-03 pending
Peter Boockvar Oil Oil prices will not return to $60-65 range and will establish a new floor of $80-85
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[7:24] So, I do think that oil prices are not going back to the 60 $65 range uh where it was before the war. I think 8085 is the new 6065.

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In the Money 2026-04-03 2027-04-03 pending
Doomberg Oil Venezuela will bring the first half million barrels per day of oil production online faster than skeptics expect
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[37:33] I say it's going to come online faster than skeptics think, but it still will take a long time. Um I think the first half a million barrels a day will be easier than most people realize to bring online.

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Thoughtful Money 2026-04-02 2027-04-02 pending
Chris Vermeulen Oil Oil will reach $140 per barrel.
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[11:43] Based on the chart pattern right now, the first major level is 140.

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The David Lin Report 2026-03-31 2026-12-31 pending