| Insch Capital Management, a Swiss hedge fund, said that the market is oversold and projected that crude oil will be trading at more than $80 per barrel by early 2016. Such an increase would equate to a near-50 percent surge in price. The optimistic forecast forms the basis of Insch Capital Management plans to increase its positions in the sector.
The hedge fund said it is looking to add oil properties to its portfolio, as some producers will be forced to sell off assets at bargain prices to cover lower income. “After the recent crude oil price declines, the oil rig count has dropped precipitously,” Insch said. “Many oil companies are being forced to sell properties in order to repay bank debt.”..............................................Full Article: Source
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