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BofAML sees brent crude oil at $130/bbl in 2013

Posted on 14 February 2013

With global GDP growth set to accelerate in 2H2013 and limited supplies, there is a growing risk of Brent prices spiking to $130/bbl this year, said Bank of America Merrill Lynch in a report.
The developed world has seen a surge in fuel-efficiency in transportation. As baby boomers exit the “prime driver” age band (15-65), oil demand will decline further. “But global population in the prime driving age band continues to grow strongly due to emerging markets.” the report noted………………………………………..Full Article: Source


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