Market News

There’s still a major reason why oil could jump back to $120, experts say

Oil producing states and the oil supply are vulnerable to geopolitical risks. Significant disruption could see prices rise to $120 a barrel U.S., Libyan and Nigerian oil production is adding around 1 million barrels a day, undermining OPEC cuts Oil supply could easily be threatened by geopolitical risks, and such a disruption could cause oil prices to skyrocket, experts tell CNBC. Neil Dwane, global strategist and chief investment officer of European equity at Allianz Global Investors, warned that oil production supply is looking threatened around [...]