Eni CEO says oil market risks breaking out of current range by early 2027
The global oil market will break out of its roughly $80-$100 range by the first quarter of 2027 at the latest, boosting inflation and reducing energy demand if the Middle East conflict continues, Claudio Descalzi, the CEO of Italian state-controlled group Eni, said.
Eni has limited exposure to the Middle East, while most of its upstream production is in Africa and Latin America.
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