Will Oil price continue to rise?

Future oil price believe to stay at $100 and above but in the mean time there should be a correction in oil price in the short term is because most of the countries are try hard to let their economy to slow down for control the recent high inflation, also the weather in cold country will went into warm weather soon.

If the Oil price still staying high, is would tell they can afford at current price with the amount of oil that they want, then after if they can't afford the Oil price would fall. This would have to wait until most of them exhausted in their fund for purchased Oil.

We can never know when and where in the world oil well is going to run at peak rate that so call peak oil in oil and gas industry.

For your information an average oil well will run completed dry that will be about 45 years for a average size of oil well we are talking about. but not for Saudi's giant Ghawar field, the world's largest oil field, with estimated remaining reserves of 70 billion barrels. That field is the largest and have not yet reach it oil peak production, also that is couldn't know it that is when.