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Important to note the $380 number is what happens when Russian output is lowered by 5M boe/d in one of JPs models. More importantly, this is with all else held equal.
People seem to be missing the part where it says 'COULD' Also Putin has (near) single handely crippled Europe's energy flow so to say he doesn't have enormous leverage over that continent is foolish. Smaller poor old soviet states are going to bend the knee sooner or later.
Consider this when when using energy resources…
That would be catastrophic and case demand destruction.
So JPMorgan wants to unload oil. Got it
It won’t reach $380 a barrel no one would could afford anything at that price & the world would simply slip into a recession? Surly JP Morgan analysts know that
Now Russia knows they have leverage!? Great way to prop up energy stocks. I’m sure JP is long!
Seems like a fairly random number pulled straight outta someone’s ass…show your work!
Lets Go Brandon! Perfect for his plan! ☠️
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