"It's a simple case of the world being able to cope with oil prices where they currently are, around $110 a barrel," Jonathan Waghorn of Guinness Global Energy Fund said.
"So, what we do is we think of oil being a cost of the global economy. Go back over 30 or 40 years, you see that cost has moved dramatically over time. Prices go too high, the world economy suffers. As we stands at the minute, the world oil prices, the budget as a total represents about 5 percent of world GDP. And we can see that the world appears to be coping with that pretty robustly."
On CNBC's "Halftime Report," Waghorn said that $150 was a real possibility within the next six years.