Forecast: Oil prices may rise up to $200


January 17, Fineko/ Oil prices will grow even more due to insufficient investments in production.

ABC.AZ reports that Doug King, the founder of hedge fund King's Merchant Commodity Fund, considers so.

The expert believes that despite the collapse in oil prices in 2008 and 2014 and the drop in quotations below zero in 2020, a barrel of oil may rise up to $100 in the near future and up to $200 in the next 5 years.

The rise in commodity prices is associated with problems related to supply diversification, and this will be the worst situation since the 1970s.

King notes that even if OPEC+ countries increase the daily production quota by 400,000 barrels per month, “in fact, less oil is entering the market”.

OPEC+ members simply can't get back to the plank performance levels. The lack of investment is to blame, the expert explained.