Oil heading to $100 & OPEC is ‘powerless to prevent it’ – analyst

Oil heading to $100 & OPEC is ‘powerless to prevent it’ – analyst

Crude prices will likely reach $100 per barrel for the first time since 2014, and OPEC has no leverage to prevent such a scenario, an analyst has warned. “Nobody wants to get caught short, full in the knowledge that more Iranian barrels are poised to be removed from the market,” Stephen Brennock, oil analyst at PVM Oil Associates, said in a research note published on Monday, as quoted by CNBC.

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