Haynes Boone Survey: Lenders See Oil Slipping Back Below $70

The crisis in the Strait of Hormuz may be creating a profound sense of uncertainty among consumers at the gas pump, but the bankers who will be lending billions for oil and gas production are sanguine about the prospects of oil and gas prices returning to normal by the end of the year.

In the latest survey of energy lenders conducted by Haynes Boone, energy lenders are expecting oil prices — currently hovering near $90 per barrel — to subside to below $70 per barrel by the end of the year, with long-term projections reaching pre-conflict levels by 2028.