Harold Hamm: Why I Predict $70 Oil by the End of the Year

Harold Hamm, CEO of Continental Resources, discusses his predictions for oil prices, initially forecasting $60 per barrel, which was later adjusted to $70 due to supply and demand dynamics. He highlights the impact of global disruptions and decreased US production on the market. Initially, his views were not widely accepted, but industry analysts have since aligned with his predictions. The discussion also covers potential threats to these predictions, such as the return of US production.

What was Harold Hamm's initial prediction for oil prices by the end of the year?

• $80 per barrel

• $50 per barrel

• $70 per barrel

• $60 per barrel

Which regions were mentioned as having supply disruptions affecting the oil market?

• Australia and Antarctica

• North America and Europe

• South America and Asia

• North Africa and Libya

What was one of the reasons for the faster-than-expected shift to an oil market deficit?

• Decreased demand in Asia

• Increased oil production in the US

• Higher-than-expected demand

• Stable supply from OPEC countries

What is the current state of the US rig count according to Harold Hamm?

• At an all-time low

• Stable and unchanged

• At an all-time high

• Rapidly increasing

What potential threat to oil price predictions does Harold Hamm acknowledge?

• Decreasing global demand

• Rising renewable energy sources

• Increasing US production

• Stable Middle Eastern supply