Energy expert warns of ‘serious oil crisis’ within next five years

Energy expert warns of ‘serious oil crisis’ within next five years

Energy expert warns of ‘serious oil crisis’ within next five years Maglan Capital president David Tawil also weighs in on the broader inflationary picture Maglan Capital President David Tawil argued on "Mornings with Maria" on Thursday that "with respect to oil supply, the rush for the exit doors is getting really serious" amid "strong demand" with the reopening of economies, which could soon lead to "a serious oil crisis in this world." The energy expert has been bullish on oil for the past couple of months, and told "Mornings with Maria" in June that he expects oil prices to hit $100 per barrel before the end of 2021. On Thursday, he told host Maria Bartiromo that he believes his projection still holds true, adding that it will happen sooner rather than later. A number of investment banks, including Goldman Sachs, have also warned that oil prices could top $100 a barrel next year. On Thursday morning, West Texas Intermediate crude oil, the U.S. benchmark, was unchanged at $70.30 a barrel. The contract rose $2.88 the day before to $70.30. Brent …
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