Big Oil CEOs Join Traders in Seeing Possibility of $100 Oil
- Exxon, Shell, Total bosses speak at Qatar Economic Forum
- Lack of investment in oil and gas contributes to current spike
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The bosses of some of the world’s biggest oil companies said crude prices are likely to keep rising because a lack of investment will curtail future supply.
The chief executive officers of Royal Dutch Shell Plc and TotalEnergies SE joined major commodity traders and banks in predicting that oil could go as high as $100 a barrel, although they also said volatile markets could drive prices back down again.