Richard Oldfield, CEO of Schroders, stated that economic growth is expected to continue as long as oil prices remain below $100 per barrel.

"There is no doubt that oil prices are likely to exceed $80 per barrel, but I believe that as long as they stay under $100, we could see further price increases," he said in an interview.

Oldfield also noted that oil prices remaining above $100 per barrel for an extended period "would clearly cause damage."

He added that the current structure of crude oil futures prices does not yet reflect expectations of any prolonged market turbulence in the market outlook for the next 12 months.