Brent has fallen below $110/bl for the first time in more than a week
Crude: The $225/bl bull’s view
Doug King of fund manager and commodity trader RCMA sees far greater upside than down in the oil market
The price of Brent fell below $110/bl for the first time in more than a week on Tuesday as the market digested news of a step-up in lockdowns in China and analysts cut forecasts for the country’s demand. But what if this only short-term relief? Doug King, CEO of fund manager RCMA Capital, owner of Singapore-based commodity trader RCMA Group, laid out the case at late March’s FT Commodities Global Summit for oil prices to reach more than double where they currently sit. “I can easily see $200, $250 this year,” says King, before settling on $225/bl when pressed for an exact prediction on the peak of the market. One factor informing King’s bullish outlook is that he does not believe “a huge amo
Also in this section
3 April 2025
Gas use in India has seen significant growth over the past year and looks set to accelerate further, even if the government’s 2030 goal remains a stretch
3 April 2025
IOCs and Western lenders are reluctant to commit to new oil and gas projects in African frontier countries
2 April 2025
The often-hidden yet powerful hand maintains supply chain linkages and global flows amid disruptions
2 April 2025
At some point it is likely that $70/bl will be quietly accepted as the producer-consumer sweet spot for a US administration having to balance both sides of the ledger
