Reasons To Be Bullish About Oil In 2024

RonFullHD Oil prices took a hit for several reasons in the final couple of months of 2023. First, the US EIA reserves have increased. Second, the US shale oil producers have gotten quite active. Moreover, everyone is worried about the Fed and that it might hike the interest rates. All is true. But the most irrational fear of the oil markets is OPEC+, in my view. The alliance has recently decided to decrease the oil production volumes. But the markets reacted quite negatively. There are some bullish political factors for oil. So, let me analyze the whole picture. Shale oil…