There will be an extra webinar this week covering oil. I have been challenged on my alleged statement that “oil will crash” in 2017 during the Central Bank overview webinar conducted last week.
Before I respond and justify my logic, I wish to clarify a few things:
A few things:
1.) Please do not take this reply badly, I really am glad that people are listening to the webinars and I do welcome all constructive questions. Honestly, I do.
2.) I did not say oil will crash. I said there are risks that can keep pressure on oil prices and that it would be unlikely that we see an average price of much higher than the mid 50’s per barrel over 2017. This is very different from claiming “oil will crash”.
Now that that is cleared up, let us get to the point of this post. Since I appreciate the question and I think everyone can get something from my answer and form their own opinion after hearing my views, tomorrow we will hold a short interactive terminal webinar at the usual time, where I will justify my reason for believing these pressures will emerge. I hope you enjoy it and it answers your question.