Rogers predicts oil will hit $200 a barrel

The price of oil could surge above $200 a barrel, more than doubling from present levels, according to Jim Rogers.

Oil prices have already seen a rally but Rogers, renowned for his commodities investments, says crude oil will surpass $150 per barrel before soaring to over $200 per barrel. The current Brent crude price is around $97 but as concerns on reserves of oil running out heighten, Rogers believes we will see another dramatic rise in price, according to the Independent. "Maybe there is a lot of oil in the world, but if there is, we don't know where it is or how to get to it," he says. Last week, Rogers was reported predicting the closure of stock exchanges and toppling of governments due ...