I do not think that the oil can reach the $ 100 barrier again, at least in the short-medium term, although in fact if it can pass the $ 70, but currently the market is very unstable and there are many conditions that favor the rise, but also many others that favor the descent.

On the one hand, Saudi Arabia and Iran have their tension at maximum levels, there is even talk of a possible Israel-Saudi Arabia alliance, which is unheard of in its essence. It would be necessary to see the capacity of Saudi Arabia and Iran to reach an agreement, and this is only possible through Russian mediation, so the whole process is very delicate.

There is also the Venezuelan question, since the country is producing less oil than OPEC allows due to its inability to increase oil production. If Venezuela falls into a state of even greater crisis, the price can go down or up, depending on who controls the Venezuelan oil wells, which hold the largest world reserve.

In short, the price of oil can actually go up and pass the $ 70, but it can also go down to less than $ 50 and leaving Saudi Arabia deeply affected, is actually a very delicate market today.