All Hell Will Break Loose for Oil in 2023...

The market is wrong about oil this time, and all hell will break loose in 2023... but only if one event fails to take place. Can you guess what is it? [Outsider Club Header] Nov 25, 2022 By Keith Kohl for the Outsider Club All Hell Will Break Loose for Oil in 2023... All hell will break loose for oil in 2023... but only if one event fails to take place. Can you guess what it is? Right now, it’s the ONLY thing stopping oil prices from being far higher than the $80 per barrel that WTI is trading for as I write this. But let's put a little more perspective on this, shall we? A few weeks ago, the price of WTI crude reached as high as $93.74 per barrel, which, at the time, was the highest it's been since the end of August. That rally was quickly shot down by a market that turned bearish, with WTI prices suddenly plummeting almost 15% over the last two weeks. But mark my words: The market is wrong this time. Biden’s Spending “Blitz” Set to Launch $5 EV Firm Over $9 billion in federal cash is set to rain down on one overlooked sector of the EV market... And this flood of government capital could send one $5 stock soaring in short order. This could be the biggest EV story of our lifetime. [Learn about the shocking EV company nobody’s talking about.]( Breaking Loose in 2023 Something feels off in the oil markets. In a recent Weekly Petroleum Status Report, the EIA reported a 9.5 million-barrel draw from commercial inventories, which includes a release of 4.1 million barrels from the SPR. Take a look for yourself: [EIA OIL] Never mind that our strategic reserves are at a 40-year low or the fact that U.S. crude output remains at 12.1 million barrels per day (still 1 million barrels per day shy of the record that was set in March 2020). The truth is that oil prices should be climbing right now. Like I said, something feels… off. Personally, I’d like to see how the market feels when the SPR gravy train ends and we start seeing real drawdowns during a season that's typically weak for oil. Even with a few permabears out there, this certainly doesn’t warrant such a huge slide in oil prices. More importantly, if we still see strong demand levels in the U.S. heading into winter, we’ll soon find ourselves in a position begging for more oil from the strategic reserves. Here Lies Silicon Valley, RIP If you thought the tech crash was bad... you haven’t seen anything yet. Due to a massive shortage of one rare resource that’s critical to their existence... Silicon Valley and the $5.2 trillion tech industry are facing a death sentence. And only one tiny company can save them from disappearing. [Read more about the $1 company ready to revive Big Tech.]( Today, there’s only one thing stopping oil from pushing back toward $100 per barrel. At this point, you have to be wondering the same thing I am — where is this volatility coming from? Most superstitious traders like to avoid using the R-word like the plague, but in oil’s case, the only thing that is preventing runaway prices is the looming threat of recession. The only threat to oil in 2023 is a weaker economy. With oil being the lifeblood of the U.S. economy, any slowdowns in demand would rightly push bearish market sentiment even more negative. After watching the EIA post revision after revision to previous demand estimates, I wouldn't be surprised if consumption levels are actually much higher today than we've been told. Of course, we’re not even considering the fact that China has yet to come out of its own recent COVID lockdowns. When that happens, more exports will be sucked up by China, and there won’t be much left in the SPR to save us from runaway oil prices a second time. Fortunately, there’s only one way investors can properly navigate through these tumultuous markets. [Let me show you how my readers are doing it.]( Until next time, [Keith Kohl Signature] Keith Kohl [[follow basic]Check us out on YouTube!]( Follow the Outsiders [Twitter]( | [Facebook]( | [LinkedIn]( | [YouTube]( This email was sent to {EMAIL}. You can manage your subscription and get our privacy policy [here](. Outsider Club, Copyright © Outsider Club LLC, 3 E Read Street Baltimore, MD 21202. Please note: It is not our intention to send email to anyone who doesn't want it. If you're not sure why you're getting this e-letter, or no longer wish to receive it, get more info [here]( including our privacy policy and information on how to manage your subscription. If you are interested in our other publications, please call our customer service team at [1-855-496-0830](tel:/18554960830).