April 23, 2024 13:44 GMT
Oil Rising to Mid-to-Low $90/bbl is “Very Plausible”: Stanchart
OIL
An oil price rise above $100/bbl “would require a geopolitical event,” said Eric Robertsen at Standard Chartered but prices in the mid- to low-$90/bbl is “very plausible” based on supply and demand.
- “If we were to see geopolitics escalate even a step further from here, then I think the pressure on OPEC+ to increase supply would go up significantly,” he said.
- “The last thing OPEC really wants is oil above $100/bbl because that’s typically the level where all of a sudden, all of the alternative energy investment starts.”
88 words