Name: Crude Oil: Bearish Or Bullish In 2023?
Uploaded: 2022-12-23T19:12:54.683
Duration: 11 min 2 s

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The crude oil price is higher on expectations of a drop in Russian supply. "Crude oil has been firming up the last few weeks and made the low for the year in December. Futures are back over the 20 day average and there is difficult resistance in the low $80 price range. The offshore drillers were dormant for the last 7 to 8 years, but now are getting a lot of business. That would not be happening if consumers had a bearish outlook on crude oil," says Wayne Kaufman.