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Oil could be headed back to US$100 a barrel this year: industry experts

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A surprise production cut by the Organization of Petroleum Exporting Countries and its allies (OPEC plus) is just one factor lifting the spirits of Canada's energy sector executives these days, as experts say crude prices could return to US$100 a barrel later this year.

"Buoyant" and "extremely positive" were some of the terms used by CEOs on Tuesday to describe the mood at a major oil and gas conference in Toronto, which took place just two days after the unexpected move by OPEC sent oil futures surging.

"That being said, the mood at this conference is extremely positive. There's a little bit of a spring in everybody's step." He said that OPEC's announced cut of more than a million barrels per day could easily tilt oil prices into $100-per-barrel territory within a few months. "It depends on how long you've been doing this, how many cycles have you seen, how much scar tissue you have," said Ian Dundas, president of Enerplus Corp., on Tuesday.

 

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Someone let the mayor of Calgary know please

Hope it goes to $150bbl

With DemocRats oil over $100. .... Nothing surprises. They know all .. when they voted for the party... They sure understand it. Obama time over $100 per barrel Was $132.....

Experts or fortune tellers?

Not with opecs production decrease. Lol. Try again boys

We all know where this is headed. So raise it add on the carbon tax and then grapes will be $50 a pound and a dozen eggs $25. But we will save the Spanish flea from extinction.

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Oil prices could hit US$100 a barrel this year, industry experts say - National | Globalnews.caA surprise production cut of more than a million barrels per day unexpectedly announced by OPEC+ on Sunday sent oil futures surging. Giddie up!
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