Oil prices could “very easily” hit $100 a barrel in the aftermath of the failed OPEC+ talks, former U.S. Energy Secretary Dan Brouillette told CNBC on Tuesday.
“You could very easily see oil hitting $100 a barrel — potentially even higher,” he told CNBC’s Hadley Gamble.
On the flip side, it’s “equally possible” that prices could collapse too.
“If there isn’t any agreement on production, and countries tend to go off and do their own thing, or do their own production, you could have a collapse of oil prices,” said Brouillette, who was U.S. energy secretary from 2019 to 2021.
OPEC and its allies, referred to collectively as OPEC+, twice failed to reach a deal on oil output last week. On…