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DUBAI: Oil is unlikely to hit $100 per barrel on a sustainable basis in the near future, according to experts at the Oxford Institute for Energy Studies (OIES), a prestigious UK-based think tank. In a report prepared by Bassam Fattouh and Andreas Economou of the OIES, the likelihood of an imminent oil “supercycle” suggested by some commodities analysts is downplayed because of the absence of key factors that might spark a surge in the price of crude. “Some key triggers of an oil supercycle, such as an inelastic supply in the face of rampant demand and lack of spare capacity and refining constraints, which could push prices to $100 a barrel and keep them at those high levels, are still missing,” they argue.

Saudi arabiaUnited arab emiratesUnited statesAndreas economouBassam fattouhSaudi energyOil monthlyJp morganGoldman sachsOxford institute for energy studiesOxford instituteEnergy studiesUnited kingdom basedSaudi energy minister prince abdul azizAl ahsaAl kharj