Saudi Arabia is incapable of offsetting all of Iran’s crude oil supplies, according to the latest oil market message shared by several analysts who spoke to CNBC. Based on this, the analysts said, Brent crude could very well hit US$100 a barrel before this year’s end. Yet nothing is certain, and this uncertainty will only deepen as the Iran sanction launch approaches. It may turn out that things are not what they seem. Market players have been toying with the idea of US$100 oil ever since President Trump pulled the United States out of the Iran nuclear deal. Since then, we have had one OPEC+ meeting where Saudi Arabia and Russia assured the market that there would be enough oil to keep prices steady. We have also had a string of increasingly alarmist headlines quoting unnamed sources from Indian and, most recently, a Chinese refiner, who said they were […]