“Rising oil prices are prompting forecasts of a return to $100 a barrel for the first time since 2014, creating both winners and losers in the world economy.”
The media is full of stories predicting that the oil price will go over $100 a barrel within a year or two while others predict “lower, longer” prices. Odd as it might seem, both are possible depending primarily on what happens in certain oil producers, especially Iran and Venezuela, as well as Libya and Nigeria. All these countries are suffering from political problems of different sorts, and each could see either a recovery in production or further disruptions.
