Ann: Killanoola Project Potential Up To 93 mmbbls, page-955

I’d say Saudi controls the oil price but with current oil inventory levels low and with Ukrainian war still raging moving into Northern hemisphere winter - it couldn’t look better for oil and Gas prices IMO. I really can’t see it dropping for a while with predictions anywhere from $97 - $130+ in 12 months time. I haven’t come across anyone predicting it be back at $40-$60. Even in recession it will weaken demand but most like just slow it’s growth. For oil demand to contract the recession has to be severe and I just don’t think it will be in the major economies with US expecting a soft landing. I look at unemployment rates and the UK and US have near historical lows. If people have a job with wages increasing due to competition for staff, it can’t be that hard a recession