Despite rising tensions in the Middle East, today’s guest thinks that the price of oil is headed not higher but lower. Paul Sankey of Sankey Research joins Jack Farley on Monetary Matters to share why he thinks the price of oil is headed to as low as $50 as millions of barrels of capacity come online in Guyana, the U.S., and elsewhere, and as Saudi Arabia begins to focus on market share once again. Recorded on October 4, 2024.
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Financial Times article on Saudi desire to take back market share: https://www.ft.com/content/1d186f62-5941-4f9e-aef1-7d93a8a696cd
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