Scott Basset, the U.S. Treasury Secretary, made controversial statements regarding the future of the oil market. He announced that the country will get through the ongoing conflicts with Iran and expects oil prices to decrease significantly.
Oil Market Analysis After the Crisis
Basset emphasized that after the end of this conflict, the oil market will likely face a significant supply surplus. He even predicted that crude oil prices could reach an astonishing level of $۴۰ to $۵۰ per barrel. These statements could be a wake-up call for oil-exporting countries and indicate major changes in the global oil market.
