Woofun AI reports that Eni CEO Claudio Descalzi stated global oil prices may exit the $80 to $100 per barrel range by the first quarter of 2027 if Middle East tensions persist. He noted that while strategic reserve releases have stabilized prices, global stocks are depleting, with daily inventory draws rising from 3.8 million barrels in February to 4.6 million in May. Descalzi emphasized diversifying supply sources toward North Africa, Latin America, and Southeast Asia to mitigate risks associated with maritime chokepoints.