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Oil CEO Predicts Price Increase Sooner Rather Than Later

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Crescent Petroleum’s CEO predicts oil prices could increase to $80 per barrel.

Crescent Petroleum’s CEO, Majid Jafar recently spoke at the World Economic Forum where he shared his thoughts on oil prices in the upcoming year.

As reported by CNBC, Jafar stated that “…over the next few years, because of the huge under investment we have had over the last few years, the concern is as global growth continues and the balance happens in the market … you could see a shock upwards in oil prices.”

“We could jump towards $80 (a barrel),” he added.

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