Jefferies: Fully Reopened World Could See $150 Oil

Low investment in oil while the world still runs mostly on fossil fuels could send oil prices to $150 per barrel when and if the world fully reopens, Chris Wood, global head of equity strategy at Jefferies, told CNBC on Wednesday. “In a really fully reopened world, the oil price could go to a $150 dollars because the supply constraints are dramatic,” Wood said. In recent years, the demonization of oil and gas, or as Wood described it—the “political attack”—on fossil fuels, has reduced investment in the fossil…