OPEC prediction of $200-a-barrel oil ignores market realities—or maybe not

OPEC's Secretary General Abdulla al-Badri last month predicted oil prices will rebound to as much as $200 per barrel, a figure CFACT advisor Marita Noon suggests could only come about if terrorism and internal strife force shutdowns of major oil-producing states such as al-Badri's native Libya and other Middle Eastern nations vulnerable to radical assaults. Otherwise, Noon notes, as soon as the price jumps about $70 per barrel, the nimble U.S. wildcatters will step up their production again and hold the oil price well below al-Badri's predicted $200 per barrel.

By |2015-02-09T12:11:26+00:00February 9th, 2015|CFACT Insights|1 Comment