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Eni CEO predicts oil market will move out of current price range by 2027

Eni CEO predicts oil market will move out of current price range by 2027

The head of Eni Group stated that the global oil market will move out of the $80 to $100 price range by the first quarter of 2027. This projection comes amid ongoing conflict in the Middle East and the pressures caused by declining inventories, which have decreased at an average rate of 3.8 million barrels per day, with the decline accelerating to 4.6 million barrels in May. These developments threaten to raise inflation and reduce energy demand. He also called for diversifying supply sources to enhance long-term energy security.

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