Wow! Exxon Now Predicting 150 Dollar Oil In July

Added: 2026-06-01

[00:00:00]Well, after an entire day of just endless reporting that a deal was eminent between Iran and the United States, Iran launches a ballistic missile attack on multiple ships trying to sneak through the straight. Yes. Of course, that was after Iran said, "There is no deal imminent. We don't know what you're talking about." But the United States media just kept pushing and pushing the narrative. So it was almost like Iran said, "Okay, we'll just show you." But something else happened today that is a little bit more significant.

[00:00:35]And that is senior vice president with Exxon came out and said by the second week of July, all global IEA inventories will be completely done for. And another oil analyst firm R. Brooks and Harris came out and said the same thing that by July the 9th the world will be in an over 7 million barrel a day oil deficit.

[00:00:59]Now I want to be very clear the 7 million barrel of oil a day deficit is not like normal deficits we've had in the past because in the past like in 2022 when we had a 2 million barrel of oil a day deficit we had oil in strategic reserves to replace that. The deficit they're talking about coming in July, there is nothing to replace it except for China.

[00:01:30]We'll see how that works out. Would China be willing to sell the oil out of their strategic reserves to countries all over the world? They will be the only country left that has any. If you remember, immediately when this war started, they banned the sale of oil out of their reserves. It had to stay in the country. And at the time, I said that was a strategic move because in a few months, they're going to be the only ones that have oil left. And if this keeps playing out the way it is until July, that will prove to be correct.

[00:02:06]Now, another reason this is significant is because they are saying once that occurs or gets close to occurring, there's no amount of jawbon or market manipulation you can do that will save the oil market. That they believe at that point oil prices will skyrocket to $150, $160 a barrel. And there's no press release. There's nothing Donald Trump can say or anyone else can say that will stop that from happening, which is basically what's happening every day of our lives right now. And I've said from the beginning how dangerous this is to keep manipulating the markets because it's giving people a false sense of security and actually stretching this thing out further, which makes it significantly more dangerous.

[00:02:48]It was two months ago the United States stated they were going to physically escort ships through the straight and we still have not done that. I don't believe there's any chance Iran signs an agreement where they open up the straight of Hormuz to go back and negotiate the nuclear stuff later. And that is because the Straight of Hormuz is literally their magic weapon. Of course, they could open it and then close it again, I guess. As for me, I'm literally telling people, my contacts and the press to stop saying there's a deal imminent because it's obviously BS at this point and you look like a clown.

[00:03:27]Thanks.