Eni CEO Claudio Descalzi has issued a stark warning that crude oil prices could surge past $100 a barrel, citing intensifying pressures on global supply and significant challenges ahead for Europe’s energy security.
The Italian energy giant’s chief executive highlighted the fragility of current market conditions, suggesting that the combination of constrained supply buffers and persistent geopolitical risks could drive a sharp repricing in the commodity.
The prospect of prices breaching the psychological $100 threshold adds urgency to the debate over energy resilience, particularly for European economies that remain vulnerable to external supply shocks.
His comments underscore a growing consensus among major producers that the market’s margin for error is shrinking rapidly.
This outlook aligns with recent warnings from other major oil companies, which have cautioned that global supply buffers are nearing depletion.
The prospect of prices breaching the psychological $100 threshold adds urgency to the debate over energy resilience, particularly for European economies that remain vulnerable to external supply shocks.
The warning comes as the Economic Commission for Latin America and the Caribbean (ECLAC) has already projected that average oil prices will remain elevated throughout 2026 compared to the previous year.