Houston Energy Club holds the 6th Latin America Energy Forum, forecasts oil prices may reach $180

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Oil prices may reach $180/barrel, President of Houston Energy Club says, if Russian invasion of Ukraine is not ended soon.

Francesco Stipo

Francesco Stipo

In 6th Latin America Energy Forum, Dr. Stipo forecasts that oil prices may reach $180/barrel

Last Thursday, March 3, the Houston Energy Club held the 6th Latin America Energy Forum, featuring speeches by Hon. Aldo Flores Quiroga, former Secretary General of the International Energy Forum, and several CEOs from the United States and Latin America: http://www.latinamericaenergyforum.com

The speakers discussed the energy outlook in Latin America for 2022, with a focus on developing infrastructure projects in the region.
Dr. Francesco Stipo, President of the Houston Energy Club, declared that "oil prices may reach $180, setting a new record, triggered by the war in Ukraine and the rebound of energy demand after the COVID 19 pandemic.

The previous record of $145 was set in 2008 ($179.90 adjusted for inflation).

Dr. Stipo declared that high oil prices will benefit oil exporting countries such as Brazil and Mexico, but will have a negative impact on oil importers such as Argentina and Chile.
Venezuela will gain from high oil prices but the economic sanctions on Russia will reduce the financial support it receives from Russia."
The Houston Energy Club is a public policy analysis organization composed of energy experts and executives based in Houston.
The organization has held the Latin America Energy Forum since 2016.

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Francesco Stipo