WTI stays above $70/BBL = rest easy, no more layoffs in 2022.
WTI < $50/BBL = gets your box packed, and your resume updated.
18 replies (most recent on top)
If russia turns off the taps to Europe Saudi's will provide more oil , The only Question would be Natural Gas . I don't think Putin is that stupid though. He could threaten it though thats more certain.
I predict 80 to 100 by mid year
Prices are down the quite a bit the last month or so. Omicron will push them down further.
No, this means the price of oil is going higher, not lower. What does this tell you about layoffs? It means massive layoffs are not going to happen. How about using your brain for critical thinking.
Am this will cause layoffs?
All posturing, nothing more.
Putin warns NATO to back off or “everyone will be turned to ash”. That is radioactive ash. If war does happen in Ukraine let's hope it stays contained to Ukraine. Russia is very capable of targeting nukes anywhere in Europe or the US.
Ukraine Sec of Defense reports that Russia has now stationed 265,000 troops within 250 miles of its border.
Russian natural gas supply to Germany was stopped on Tuesday (12/21/2021) via the Yamal-Europe Natural Gas Pipeline as reported by Reuters. Hope all that green energy keeps Germany warm this winter. Doubt it.
American tanks are being trucked north from Greece into Bulgaria. F-15's are being forward deployed into Romania. If NATO forces move into Ukraine expect a military response from Russia. If Russia and NATO get involved in a kinetic war in Ukraine, China may use this as opportunity to take Taiwan. Expect China Joe Biden to do nothing to support Taiwan. All of this will create huge uncertainties in the financial markets, so adjust your portfolios accordingly.
The Yamal-Europe Natural Gas Pipeline from Russia to Europe is now (12/18/2021) at the lowest gas rate it has seen in 20 years.
If that were true, then why did the US recently send 1000 tanks and 35,000 troops to southeast Europe. It costs a lot money to do that.
Russia would need revenue to fight a war and 50% of it comes from energy sales to Europe. So, no, they would not cut off their nose to spite their face.
@1ovy great points - don’t forget rising interest rates sparking retirements as well!
If Russia invades Ukraine and NATO gets involved, then you don't think Russia will turn off the taps to Europe creating a worldwide supply chain disruption in oil and gas. You should not just look at what a country produces, but all the political ramifications.
With great resignation, low employee morale, record low investment in fossil fuels, and new variants potentially emerging, it would be very unlikely to have layoffs anytime soon.
Umm, except Ukraine oil production is already close to zero. Sorry.
IMHO WTI will above $70/BBL from here on out. If you don't believe me, Goldman Sachs is bullish on oil for 2022. If things heat up in Ukraine WTI could be above $100/BBL overnight.