“Crude oil prices are likely to decline to pre-conflict levels in the low-$70s over the next six months,” Ashwini Shami, smallcase manager, president and chief portfolio manager at OmniScience Capital, said. A combination of rising non-Opec (Organisation of Petroleum Exporting Countries) supply, inventory replenishment and accelerating substitution toward electric vehicles and coal should keep a lid on crude prices, Shami said.
