IAHL Corporation (IAHL)

[energybuyer]

Oil could climb above $US100 per barrel by late summer before rallying to more than $US115 in 2024, according to Amrita Sen, chief oil analyst at Energy Aspects.

Sen outlined an “extremely bullish view for oil” in a virtual presentation hosted by Wells Fargo last week, according to Michael Blum, managing director of Wells Fargo Securities.

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Sen sees global oil demand growing by 1.5 million barrels of oil equivalent per day in 2023, led by China’s reopening. On the supply side, she notes the recent OPEC+ production cuts aimed at supporting the market have yet to take effect.