Look For Oil To Push Past $100 Per Barrel in 2016 Says John Hofmeister

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Apr 29, 2015

Former Shell President John Hofmeister thinks that the market is greatly underestimating the severity of drilling cuts that the American energy industry has made since oil collapsed.

That is going to lead to a decrease in production, and he doesn't expect that production to bounce back quickly.

What this could make for in 2016 is a very tight oil market where oil could again cross $100 per barrel.

That would make the energy sector the place to be for the next 18 months.