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
15 November 2024
With Chevron and AIM-listed Challenger Energy having completed their Uruguayan farm-out deal, Challenger CEO Eytan Uliel updates Petroleum Economist on the firm's progress in the frontier basin
14 November 2024
The country is seeking to secure its position as a major global refiner and meet rising domestic requirements
13 November 2024
IOCs are focused on the next wave of exploration activity in Namibia and are keen to learn from one another’s results
