Poll: Texas Tea 🛢️
This week we asked the Invstr community how they felt about the price of oil!
In case you’ve been under a rock the past few weeks or not keeping up with Invstr Crunch, the price of oil has been dramatically rising. For some quick recap, the reason this is happening is because of the Russia and Ukraine conflict. As the war has continued with Russia being one of the largest producers of oil in the world crude oil has faced global supply fears, driving up the price. Currently, consumers are suffering at the pump with gas prices hitting an average of $4.00.
The Invstr community is in a strong agreement about where the price of oil will head next, with an overwhelming 72% (near 3/4) of the community believing the price of oil will continue to rise. This aligns with the opinions of experts in the field like Andy Lipow, President of Lipow Oil Associates who thinks gas will reach $4.50 a gallon as supply disruptions continues. Some Invstr has taken a different approach to view the situation, believing gas prices will fall. This could also make some sense given the U.S is able to find or buy ample oil for a fair price and leave shares in Russian oil largely obsolete. 17% of investors combined opted to take no opinion, admitting to not knowing what will happen to oil prices, or take a neutral stance where the price stays the same. All in all, the Invstr community has once again spoken and with a diverse range of opinions! Thanks for sharing and happy investing everyone!
The Invstr Team 🙂