The world should expect major oil price highs again. These were the words of Peter Csoregh, senior portfolio manager of Robeco’s Natural Resource equities fund, speaking at the Reuters Global Energy and Climate Summit in London yesterday.
Mr Csoregh said oil prices could hit previous peaks of $147 a barrel due to the growing demand from developing markets like China outpacing current global supply.
“In the old days we would have a World War and we would realign a little bit who has access to what. What will happen this time around, I don’t know but clearly the temperatures are rising.”