Global oil market is geared for a rally beyond $90 per barrel in the coming weeks with Saudi Arabia unlikely to reverse the cuts amid forecasts of an impending record global demand surge. Analysts argue that the market is in a bullish state and heading well into the $90 per barrel range as the International Energy Agency forecast record global demand and tightening supplies. Prices have been seeing sustained gains over the past several weeks in a row, the longest such streak since 2022. Bob McNally, president at Rapidan Energy, was quoted by CNBC saying that oil hitting $100 per barrel is “entirely possible.” Oil ... (full story)