Hofmeister looks for WTI to climb toward $100, while Morse sees one scenario at $20
John Hofmeister, former Shell Oil Company president, was on BNN today predicting the return--sooner than later--of much higher oil prices due to increasing decline rates, particularly from shale wells, increasing capital constraints and the recent dramatic decline in rig count, all factors that point to falling oil production in the U.S.

John Hofmeister, former President Shell Oil Company

“We’re going to see declines impact prices mid-year,” Hofmeister to...

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