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Inini Urges North African Oil Producers to Address Supply as Prices Expected to Rise in 2027
The CEO of the Italian Eni Group, Claudio Descalzi, called for a focus on oil producers in North Africa, expecting oil prices to rise in 2027. He pointed out that the company concentrates most of its production in Sub-Saharan Africa and Latin America, with an active presence in Libya, where it owns developmental projects and investments estimated at ten billion dollars, along with new gas discoveries leading to increased production. He anticipates that the price per barrel of oil will exceed the range of $80-$100 by early 2027, amid increasing risks of stock withdrawals and declining global reserves. This situation underscores the importance of enhancing energy security through diversification of supply sources and transportation methods.
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