Inni: Oil Market Could Exit Current Price Range by Early 2027

The CEO of Eni, Claudio Descalzi, stated that the global oil market could surpass the current price range of $80 to $100 per barrel by the first quarter of 2027 if the conflict in the Middle East continues. He explained that this could lead to rising inflation and a decline in energy demand, noting that global reserves have so far helped keep prices within this range. He also pointed out that the decline in oil inventories by an average of 3.8 million barrels per day and the increasing demand for electricity underline the importance of energy supply security.

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