Oil Prices Projected To Hit $125 In 2022

Crude oil could soar to $125 per barrel next year and $150 in 2023 due to OPEC's limited capacity to boost production, JP Morgan analysts said in a new report. "OPEC+ is not immune to the impacts of underinvestment…. We estimate 'true' OPEC spare capacity in 2022 will be about 2 million barrels per day (43%) below consensus estimates of 4.8 million," the team, led by Christyan Malek, wrote, as quoted by TheStreet. "While we believe a three-month pause to 400,000 barrel-per-day monthly increments is needed during the first half of 2022 to…