APPEC signals oil supply tightness, analysts flag $120 risk

At S&P Global's APPEC conference, industry participants highlighted mounting supply-side pressures in global oil markets, with some analysts warning of a potential rise to $120 per barrel. The signals point to tightening balances amid geopolitical and capacity constraints, though the exact trigger and timing remain uncertain. This matters as higher oil prices would feed into inflation and weigh on growth.