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
19 December 2024
Deepwater Development Conference welcomes Shell’s deepwater development manager to advisory board for March 2025 event
19 December 2024
The government must take the opportunity to harness the sector’s immense potential to support the long-term development of the UK’s low-carbon sector
18 December 2024
The energy transition will not succeed without a reliable baseload, but the world risks a shortfall unless more money goes into gas
18 December 2024
The December/January issue of Petroleum Economist is out now!
