Secretary-General of the International Energy Forum McMonigle: Oil prices could spike to $150 per barrel. Current IEF projections point to an impact of around 1.5 million barrels per day (bpd) on Russian oil supply. McMonigle: We’re in store for a lot of volatility and higher prices over the next several months. Oil prices could spike to $150 per barrel, especially if the situation with Russian oil supply worsens amid sanctions from the West and self-sanctioning from buyers, Joseph McMonigle, Secretary-General of the International Energy Forum (IEF), told Bloomberg on Tuesday. Current IEF projections point to an impact of around 1.5 million barrels per day (bpd) on Russian oil supply after Putin invaded Ukraine, according to McMonigle. Yet, it will probably take another two weeks to see hard data on the actual impact of how much Russian barrels have come off the market, he added. “We’re in store for a […]