Oil could hit $60 or higher in the second half of next year, according to Eric Nuttal, Senior Portfolio Manager at Ninepoint Partners. Watch as he talks with Financial Post’s Larysa Harapyn about just how oil could hit $60 or higher in the second half of next year.

Even with the short term effects of lockdowns due to Covid affecting the US and Europe, in areas that are not locked down demand is all ready recovering, Japan is only down by 4% and it is the 4th largest consumer of oil and gas, China is doing even better.

Pointing to pent up demand and the shear size of the oil and gas market, Eric walks us through his logic on why oil prices cannot stay at current levels and will likely rise rapidly during 2021.