Celente: Oil Surges Above $80 but Wild Cards Could Send Price to $130

July 28, 2023

As the price of oil surges above $80 there are some wild cards that could send the price to $130.

OIL PRICES SET TO RISE: DEMAND UP, SUPPLY DOWN

July 27 (King World News) – Gerald Celente: Oil producers will struggle to meet demand during the second half of this year, especially as demand in China and India continues to rise, Joseph McMonigle, secretary-general of the International Energy Forum, said in a CNBC interview last week during the G20 economic summit.

Demand for oil has returned to pre-COVID levels, “but supply is having a tougher time catching up,” he noted. “We’re going to see much more steep decreases in inventory.”