Total Sees $100 Oil Coming, And Says It May Not Be a Good Thing

  • High prices may not be good for economy, oil companies: CEO
  • Any spare supply boost from Saudi Arabia would take time
Total SA Chief Executive Officer Patrick Pouyanne said he sees oil heading to $100 with strong support for prices.(Source: Bloomberg)
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Total SA is among a growing chorus that sees $100 oil on the horizon. But the French energy giant isn’t thrilled about it.

Chief Executive Officer Patrick Pouyanne sees supportive elements, such as looming sanctions on Iran and disruptions in Venezuela, that are stripping supply from the market and pushing prices back into triple digits for the first time seen since 2014, he said in a Bloomberg television interview.