The oil guru who predicted the decline of crude oil in 2014, also predicted the price return to $ 100 within five years or 2020, in case a fluctuating supply fails to meet the demand.
Gary Ross, the founder of PIRA Energy Group claimed that oil markets are not as over-stocked as many believe, as Saudi Arabia pumped oil from all possible without drilling new ones."The current prices are unsustainable," he said on Monday in an interview in London.
The forecast of Ross, who last year was bearish on oil prices before to shrink by half, is at odds with other analysts and investors bracing for "lower for longer" prices, a term coined by the Chief Executive Bob Dudley of BP Plc.
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