Neutral impactEconomy

Matrix Global CEO sees crude prices falling below $70 by mid-2027

CNBC-TV18 1 hr ago·23 Sept 2026, 6:58 am

Crude oil prices could trend lower over the longer term as additional refinery capacity comes back online and global supply remains adequate, according to Richard Redoglia, CEO, Matrix Global. He expects Brent crude to face resistance at around $115-$120 a barrel, as higher prices could begin to trigger demand destruction.

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Matrix Global CEO sees crude prices falling below $70 by mid-2027