25.09.2015 - Will OPEC Have the Last Laugh?
Oppenheimer’s energy guru, Fadel Gheit, doesn’t buy the view that oil prices will fall as low as $20 a barrel. But that doesn’t make him bullish on crude. He sees prices bouncing around for a while before likely settling into $65-$75 a barrel range. West Texas Intermediate crude prices dropped 0.4% to $44.34 in recent trading: “We think oil prices will remain lower for longer, until the objectives behind the collapse are met, and we don’t see this happening any time soon. We think the market is still searching for the new normal, which is not $50 and is not $100 either, but more likely in the $65-$75 range.”..............................................Full Article: Source
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