Total CEO: Oil could surge to USD 100 per barrel

Patrick Pouyanne, CEO of French oil major Total, would not be surprised to the see oil price reach USD 100 in the months to come. On Thursday, crude climbed to USD 80 per barrel for the first time in four years.

Photo: Bloomberg

Oil's rise to USD 80 a barrel is stoking concerns that the price rally will erode demand, but OPEC's giants so far are not worried.

Crude surged above USD 80 a barrel in London for the first time since 2014, as global supply tightens and the US moves to restrict oil exports from Iran.

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