3 Bold Oil Market Predictions for 2022

Forecasting what might happen in the oil market in any given year seems like a fool's errand. No one foresaw a global pandemic causing oil demand to fall off a cliff in 2020, sending oil prices into negative territory at one point. Likewise, few would have predicted that oil prices would top $70 a barrel in 2021 as the industry recovered from a brutal 2020.

In short, any prediction of what might happen in the oil market seems bold. Despite the probability of being wrong, I think it's a good idea to have a thesis for what might happen in the oil market over the coming year to help guide investment decisions. With that in mind, here are three predictions for what I believe could occur in the oil market in 2022, given the way things are lining up.

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Source Fool.com