Goldman Sachs is forecasting $100 a barrel oil on record demand and weak supply.
Context: Biden’s war on oil since taking office is starting to see results. The results, $100 per barrel oil prices.
The prices for oil will not likely be seen until 2023, but $85 per barrel is likely in 2022.
What this means: Gas prices are already averaging over $3 per gallon and the increased price of oil from demand could see that price rise even more.
The demand comes from not only gasoline but also diesel and plastics which are made from crude oil.
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