JPMorgan Sees ‘Stratospheric’ $380 Oil, page-3

I would expect government intervention before it got to that price otherwise the alternative is too grim to even contemplate!
Maybe that is why $180 US a barrel is often mentioned as worse case, Price cap?

A lot of world leaders hustling to control this situation.
Electric vehicles are a good 20years away from dominance on the roads. Besides most consumers have increased costs in everything which significantly reduces ability to go out and buy a 60k EV. They will keep repairing the car the own now predominantly.

The positive for MAY is any oil resource outside of Russia would be viewed as global significance to Western economies for economic security.

Middle East production is at full capacity already.
Who is going to fill the gap in demand for oil?