$90 Oil More Likely Than $40 Oil

$90 per barrel oil is more likely than $40 per barrel oil.

That’s according to Majid Jafar's, CEO of Cresent Petroleum, who expressed the view in a television interview with CNBC on Thursday.

“I’m an optimist. I actually think there will be a [U.S.-China] trade deal. I actually think that despite some, you know, doom and gloom the world economy is still growing pretty well. I mean well north of three percent overall, north of six percent in China,” Jafar told CNBC in the interview.

“I think we’ll be in this $60 [per barrel] to $80 range, it will be volatile, but … I’d say $90 is more likely than $40,” he added.

In the interview, Jafar told CNBC that this is “probably one of the most difficult years to predict” and stated that “we’ve seen unprecedented volatility in the last few months.”