Jorge Montepeque, president of General Index
Crude may hit $80/bl this year—Montepeque
The oil market veteran sees further price upside
Demand strength in the US and China and a bullish storage picture should prime oil prices for further gains, even as high as $80/bl, according to Jorge Montepeque, president of challenger price reporting agency (PRA) General Index and formerly the influential head of markets at rival PRA S&P Global Platts. “The most important thing over the past year-and-a-half is that the price has jumped like nobody could have imagined,” says Montepeque. “The market has essentially gone up by 90pc. Imagine that, in the middle of the most cataclysmic shrinkage in demand, we have seen an increase in prices of 90pc in a year.” 10-15pc – US gasoline demand back above pre-Covid levels And he sees
Also in this section
5 March 2026
Gas is a central pillar of Colombia’s energy system, but declining production poses a significant challenge, and LNG will be increasingly needed as a stopgap. A recent major offshore gas discovery offers hope, but policy improvements are also required, Camilo Morales, secretary general of Naturgas, the Colombian gas association, tells Petroleum Economist
4 March 2026
The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
