The One Catalyst That Could Keep Oil From Hitting $100

A week ago, predicting where oil prices would be in six months or at the end of 2023 was relatively easy. Bar a global slowdown, they would be higher. There were two reasons for that consensus among most analysts watching the oil market. First, China last year ended its zero-Covid policy that was depressing oil demand. Second, the global supply of crude oil was tight and expected to tighten even further as the year wore on. And then OPEC+ declared an additional production cut, throwing all these forecasts out of the window. If the future of oil…