The Oil Casino: AI Stacks the Odds (Energy Intel, March 17, 2022)

Oil producers basked in an atmosphere of high oil prices at the recent CERAWeek conference. Dated Brent reached almost $138 per barrel on its third day. Those in attendance heard forecasts of prices hitting $150 or perhaps even $200. It might have seemed that oil’s salad days had returned, but less than one week later crude oil prices had dropped by 25%. West Texas Intermediate traded under $100. Executives who seven days earlier were thinking high prices would be the new normal must have wondered how their world could change so quickly. Welcome to the digital oil casino. Read more here.