Oil could hit $100/bl next year
Trafigura sees demand recovery driving oil rally
The trader raises the possibility of $100/bl crude next year
“The current [backwardated] structure of the market is absolutely telling you that the market is hungry for oil.” So says Saad Rahim, chief economist at Singapore-headquartered trading house Trafigura, in an interview with Bloomberg TV. And he predicts that crude could hit three figures in the next 12-18 months. “We have moved from a situation where the recovery was China-, manufacturing- and goods-led… to something that is more US-, Europe services- and experiences-led. Everyone is out there hitting the road and taking to the skies again. You are seeing a very strong demand recovery,” Rahim continues. And this rebound is allowing traders to shrug off previous concerns about what Rahim calls
Also in this section
19 March 2026
The regional crisis highlights the undervalued role of fixed pipelines in the age of tanker flexibility
18 March 2026
Rising LNG exports and AI-driven power demand have raised concerns that US gas prices could climb sharply, but analysts say abundant shale supply and continued productivity gains should keep Henry Hub within a range that preserves the competitiveness of US LNG
18 March 2026
Risks of shortages in oil products may cause world leaders to panic and make mistakes instead of letting the market do what it does best
17 March 2026
The crisis in the Middle East has put LNG’s ability to offer security and flexibility under uncomfortable scrutiny
