OPEC Special Report: Oil Price Targets and Expectations

Stock Traders Daily has issued a Special Report on Oil, with emphasis on OPEC production cuts, including trading recommendations that are likely to influence the price of Chevron Corporation (NYSE:CVX), Exxon Mobil Corporation (NYSE:XOM), iPath S&P GSCI Crude Oil Total Return (NYSEARCA:OIL), and United States Oil Fund LP (ETF) (NYSEARCA:USO).

The scenarios from the report:

  1. IRAQ and IRAN refuse to participate:  Oil prices will plunge.  --- Highly Unlikely. 
  2. OPEC cuts as suggested with no outside help (stuck at 32.69 mbd).  This would cause demand to exceed supply by only 4K barrels per day in 2017, basically only balancing the market.  If this happens oil prices are likely to stay put.  --- Unlikely.
  3. OPEC cuts as suggested and Oman cuts by 75K barrels.  This would cause demand to exceed supply by 340K barrels per day in 2017.  If this happens prices are likely to increase modestly initially and then gradually from there.  --- Likely
  4. OPEC cuts and gets participation from both Oman and Russia.  If this happens demand will exceed supply by 1.2 mbd in 2017.  If this happens prices will spike immediately, we could see $60 by the end of this year.  --- Very Likely

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The entire report including trading recommendations and targets is available in our Special Reports page.  SPECIAL REPORT ON OIL

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