Oil Prices Surge Past $90/Barrel; OPEC+ June Meeting Key to Avoiding Repeat of 2022 Price Spike

• Oil prices have shot above $90/barrel, analysts warn could reach $100/barrel soon

• Current situation mirrors early 2022 when prices hit high $80s before crashing later in year

• High prices previously triggered demand destruction and flood of new non-OPEC supplies

• Whether history repeats depends on OPEC+'s next meeting in June and if they curb outputs

• Key question is if OPEC+ will calm the market's "sugar rush" this time rather than spur it on