Eni CEO warns: If the conflict in the Middle East persists, oil prices may surpass the $100 mark in early 2027.

According to the Securities Times APP, Claudio Descalzi, the CEO of Italian Eni Group, said in an interview last Saturday that if a long-term conflict breaks out in the Middle East, it may push oil prices to break through the recent trading range before the beginning of 2027, further exacerbating inflation and dragging down global energy demand. Descalzi pointed out that as governments use strategic reserves to hedge supply disruptions, oil prices have generally remained between $80 and $100 per barrel. However, he warned that relying on reserves is not a sustainable strategy due to limited resources. He advocated for countries to strengthen energy security through diversifying supply sources and transportation routes.