The global oil demand recovery and a lot of spare capacity that OPEC+ has yet to bring back to the market suggest it is reasonable to expect that oil prices will trade between $60 and $75 a barrel one year from now, oil expert and IHS Markit Vice Chairman, Daniel Yergin, told CNBC on Tuesday. “If we really do have the rest of the world recover, I think it’s reasonable to think that oil would be in that $60 to $75 range,” Yergin told the CNBC program “Street Signs Asia.” Demand is set to rebound with the United States and China recovering strongly, but the oil production capacity that OPEC+ still keeps offline would probably offset any overshoots in prices, according to the oil expert. “There’ll be offsetting pressures, and more supply would come in and we’d start to see the U.S. coming back into production again,” Yergin said, […]