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Jefferies says oil could soar to $150 a barrel in a fully reopened world, despite current Omicron slump

December 1, 2021


Jefferies strategist Christopher Wood has said oil could hit $150 if economies return fully to normal from the pandemic, as rising demand for fossil fuels runs into a supply squeeze.

“In a world that really reopens — which is a big ‘if’ — the oil price can go significantly higher,” Wood told CNBC on Wednesday.

“In a really fully reopened world, the oil price could go to $150 dollars, because the supply constraints are dramatic.”

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