Oil prices have risen steadily this quarter. Benchmark crude hit a 26-month high on Monday near $92 per barrel and is forecast by some analysts to be headed to $100, driven by quantitative easing in the United States and as data supporting robust growth in India and China drive demand. Analysts believe OPEC's evident reluctance to increase output and the prospect of continued dollar weakness add to the case for costlier oil in 2011.
Articles Tagged "goldman sachs"
Investment in new oil fields has not been robust; when the current overcapacity is sucked up, the gap between supply and consumption will narrow again, forcing prices up. On that thinking, $75 per barrel can look like a good bet. Juniors lead the way!