OPEC – $100 Oil price coming soon? As it looks unlikely that OPEC will change its course if oil prices hit $100, several of the cartel’s members claim they don’t see the need to boost production.
The last time oil prices were above $100 was in 2014, and stayed above for more than a year. High energy prices are now fueling global inflation which hit multi-decade highs in Europe and the United States.
Concerns that conflict in Ukraine will add to already high inflation has led the U.S. Treasury yield curve flatter, with the gap between two-year and 10-year yields approaching one-and-a-half year lows reached last week.
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Read more about OPEC – $100 Oil price coming soon? at https://oilprice.com/Energy/Energy-General/OPEC-Is-Ready-To-Embrace-100-Oil.html