Eni CEO Warns Oil Prices Could Break $100 Ceiling by 2027

Key Facts

1The CEO of Eni SpA warned that oil prices could break the $100 per barrel ceiling by early 2027.

Amid structural shifts in global energy supply chains, the CEO of Italian energy giant Eni has issued a long-term price warning regarding the trajectory of crude markets. According to reports, Claudio Descalzi anticipates that oil prices could break the $100 per barrel ceiling by early 2027. This forecast is primarily driven by anticipated supply-demand imbalances and a significant underinvestment in new production capacity over the coming years.

These projections emerge as major energy peers report divergent results; Shell recently posted robust quarterly earnings supported by trading resilience, while ExxonMobil warned of refining margin pressures per recent financial filings. Compared to historical averages, a return to $100 oil represents a significant shift, as Brent crude averaged approximately $82 in 2023 according to U.S. Energy Information Administration (EIA) data.

Regarding the performance of Eni (E), the stock stood at $47.72 at the close of July 10, 2026, after trading between a low of $47.21 and a high of $47.72. Traders are now looking toward the API Crude Oil Stock Change data scheduled for July 7, 2026, which may provide immediate insights into demand levels to complement the CEO's multi-year bullish outlook.