Peak demand vs. peak investment… Oilprice.com

June 22, 2021 by Jim Colburn Leave a Comment

Irina Slav, Oilprice.com, quotes Castleton Commodities CEO, here…

”From $35 per barrel to $130 per barrel—this is the range for oil prices in the next few years that we could see, according to a commodity trading group. And it will all depend on what peaks first: demand or investment in new production. “You could see spikes to even higher than $100 a barrel, even $130, and you could also see it go down to $35 a barrel for periods of time going forward,” William Reed II, chief executive of Castleton Commodities International, said at the FT Global Commodities Summit this week, as quoted by Reuters. “The question is what happens first. Peak demand or peak investment?””

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