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
17 January 2025
Supply glut or supply deficit are both plausible outlooks, with tariffs and sanctions among the key risks that could swing the pendulum
17 January 2025
European Commission is on its way to meeting clean energy goals, but energy security concerns and higher costs may give it second thoughts
17 January 2025
The CEO of QatarEnergy has highlighted the potential impact a new EU directive could have on energy exports to the continent
16 January 2025
The government’s resource nationalism is aggravating the NOC’s debt position and could yet worsen if also tasked with the decarbonisation shift
