Brace for oil prices to spike toward $100 a barrel with OPEC's cuts set to squeeze supply in time for driving season, energy analyst says

• OPEC+'s surprise decision to squeeze supply in time for the driving season could boost oil prices, according to an energy analyst.
• The new normal for crude oil prices could climb to $100 a barrel, Paul Sankey told CNBC. 
• Sankey Research's president also warned the supply side of the oil market isn't looking great. 

The surprise move last weekend by the Organization of Petroleum Exporting Countries and its allies to slash oil output will squeeze supply in time for the summer driving season -  which will likely boost oil prices toward $100 a barrel, an energy analyst said.