Oil headed towards $60. A Real possibility
Oil has tendency to fall by more than 70% from the top. After topping out at $138. After many production cuts and effort to arrest fall in price by OPEC+ and news that Oil is headed to $300, Oil continues to show weakness. Lower demand from bigger economies, expectations of falling Oil price and shift to alternate fuel will further pull-down Oil prices, possibly to $60 by end of year 2024.