Mukesh Sahdev, founder and CEO of XAnalysts, said that a sustained crude oil price of $60 per barrel is a myth.

The assessment challenges prevailing market forecasts and suggests that structural constraints in the energy sector will prevent a significant price drop. This disagreement highlights a growing divide between short-term speculative predictions and long-term structural analysis of the global energy trade.

Sahdev said that several factors will keep oil prices within a range of $70 to $90 per barrel [1]. He pointed to the shifting power dynamics within OPEC and the presence of refining bottlenecks as primary drivers of this price floor. Additionally, he cited storage dynamics, and the volatility of Middle East geopolitics as elements that prevent the market from sliding toward the $60 mark.

These views contrast with other industry predictions. Some analysts suggest that oil is on track to reach $60 per barrel by 2027 [2]. This lower projection has been echoed in reports from Yahoo Finance, which also suggests a trajectory toward $60 per barrel by 2027 [3].

Sahdev said that the structural market factors currently in place make an extended period of $60 oil unlikely. He argued that the combination of supply management by OPEC and the physical limitations of refining infrastructure creates a natural support level for prices. According to Sahdev, these fundamentals outweigh the bearish sentiment that drives lower price targets.

“A sustained $60-per-barrel crude price is a myth”

The tension between Sahdev's $70–$90 range and the $60 forecast for 2027 reflects a broader debate over whether energy transition and demand shifts can override the geopolitical and physical constraints of oil production. If Sahdev is correct, the market will maintain a higher cost floor regardless of bearish sentiment, impacting global inflation and energy policy.