The Energy Report by PHIL FLYNN
Global oil prices are fluctuating as we put the war premium in and take it back out again. The World Bank is warning that a medium oil disruption scenario could equal the 2003 Iraq war and could drive fourth-quarter oil prices to the $109 to $121 range. Our target is $111 so in that scenario we’re pretty much right in line with what they are thinking. The risk to global supply is higher than it’s been in probably 50 years.
Ann: September 2023 Quarterly Report, page-26
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