Rising oil prices have sent the average price of US gasoline above $5 for the first time in history.
Are they going even higher from here?
While anything is possible in the immediate term, oil expert Art Berman predicts prices will moderate downwards over the rest of 2022.
Part of this should happen organically: high oil prices tend to be their own cure, as they eventually depress demand.
However, all the big actors on the world stage arealso doing everything they can to bring prices down. The Fed is trying to slow economic activity. Governments are scrambling to unlock new supply. Trade routes are being redrawn.
For a highly data-driven & chart-rich argument for lower oil prices ahead, watch today’s interview with petroleum geologist Art Berman.
READ ART’S FREE ‘DEMAND DESTRUCTION’ REPORT that inspired this discussion, with even more charts at https://wealthion.com/oildemand