In an interview with Fox Business anchor Neil Cavuto, the oilfield drilling executive said that “the market overreacted to the omicron demand destruction.”
“OPEC is supposed to add 400,000 barrels a day a month. They’re struggling to do that right now,” Eberhart explained. “And on top of that, we’ve got an inflationary economic environment, so I think oil is headed higher.”
Eberhart added, however, that Biden’s “policies are pushing gas pricing up.” He said that the administration “doesn’t care for the price for energy that consumers are paying,” and pointed to the revoking of the Keystone pipeline permit and other restrictions on drilling.
