31.08.2012 - Barclays' brent crude oil forecast for 2013 is $125/bl; $180/bl by 2020
The key difference Barclays sees between oil and most other energy markets is supply, where the challenge is replacing declining oil production. Demand, by contrast, responds to economic weakness to similar degrees across the energy spectrum. And with 3Q12 looking as if it will see a very significant tightening of the oil market, Barclays' key Global Energy Outlook recommendation is to stay leveraged to oil and to oil-biased equities and credits...............................................Full Article: Source
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