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This past year has been a challenging one for oil investors , as crude prices went from rebounding to their best levels in nearly five years to crashing below the comfort level of most oil companies in a matter of weeks. Even though I nailed all three of my bold predictions for 2018 , investors frustratingly wouldn’t have made much money after a late swoon in the market wiped away those gains. However, I think last year’s market volatility sets investors up for a potentially bigger payday during 2019 if my bold predictions come to fruition this year. Oil supplies tighten faster than expected, sending crude back into the $80s After starting 2018 around $60 a barrel, the price of oil peaked at more than $85 in early October before collapsing to end the year near $50. Geopolitics fueled crude’s wild rise as the Trump administration promised to impose powerful tariffs on Iranian oil exports , only to grant last-minute waivers to most of that country’s key buyers. Because of that, the oil supply went from being on the of deficiency to excess, which forced OPEC and several other major oil-producing countries to curb their output heading into 2019. […]
