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“Limited” oil and gas capacity could push up prices in 2023, economist says

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News Tech: One economist predicts that oil prices may increase once more in early 2023.

On Monday, the price of natural gas in the United States increased to new 14-year highs due to worries about reserves and the European energy crisis. The potential of a nuclear agreement with Iran, which would result in an increase in petroleum entering the market, and worries about a worldwide recession caused oil prices to fall throughout the session.

According to Neal Dingmann, Managing Director of Energy Research at Truist Securities, “domestically, whether it’s oil or gas, these companies have very limited incremental capacity right now.”

According to Dingmann, oil could decline to about $80 per barrel this year before rising to $110 in the first few months of 2019.

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