Is oil headed back to $100 a barrel?

Between the huge influx of crude coming out of Texas shale fields and forecasts the gasoline-powered car is headed for extinction, it’s not hard to see why some investors are betting low oil prices are here to stay.

But one prominent analyst, Bob McNally, president of the Washington-based Rapidan Energy Group, is warning all those naysayers are wrong and oil is headed back to $80 or even $100 a barrel.

Union Jack Oil plc (LON:UJO) is an onshore oil and gas exploration company with a focus on drilling, development and investment opportunities in the United Kingdom hydrocarbon sector.

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