An Exxon executive said physical Brent crude could hit $150 to $160 a barrel once stockpiles are exhausted

Energy executives say the world is weeks away from oil hitting $150 per barrel, with government and private industry reserves depleted

The price of physical Brent oil cargoes will spike to $150 to $160 per barrel once inventories hit all-time lows, Exxon executive Neil Chapman said.