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Opinion: Everyone Is Guessing When It Comes To Oil Prices

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Predicting and diagnosing the trajectory of oil prices has become something of a cottage industry in the past year. But along with all of the excess crude flowing from the oil patch, there is also an abundance of market indicators that while important, tend to produce a lot of noise that makes any accurate estimate nearly impossible.

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Bank of America: Oil Demand Growth to Hit Zero Within a Decade, EVs the Culprit

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“I fully anticipate we’re going to keep a lot of pressure on that cobalt production,” Ted Miller, head of energy storage strategy and research at Ford, said at a mining event in South Africa. There are a long list of other uncertainties that complicate such medium- and long-term forecasting. That has mostly run its course.

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