The world’s oil supply is about to get way tighter and send crude prices climbing, according to commodities expert Helima Croft.

The global head of commodity strategy at RBC Capital Markets pointed to signs that supply-demand imbalance in oil markets could soon tip in the other direction, as the world’s crude production is poised to slow. That could cause Brent crude, the international benchmark, to hit $85 in the second half of 2024, Croft predicted.

The US, which saw a “blockbuster” year for oil production in 2023, isn’t likely to churn out crude at the same speed it did last year. US production growth could crater in half from 1 million to just 500,000 barrels a day this year, Croft predicted, citing her conversations with other oil market watchers at the recent International Energy Week conference.

“It’s not that we’re saying … US production is not going to grow,” Croft said in an interview with CNBC on Monday. “It’s just a question about, were the gains that we saw last year due to particular unique circumstances that are not going to be replicated this year.”