Trader: by the end of 2016 oil price to reach $50/barrel
Edited by Rhod Mackenzie / 2016-01-25 02:51:39
The founder of the Andurand Capital fund, oil trader P. Andurand who forecast the fall of oil listing to $25/barrel in Q1 2016 thinks that by the end of 2016 the oil price will make up $50/barrel. In 2017 the oil price will reach $70/barrel.
We live in the world where very low prices follow very high prices. I think that the listing has reached its bottom, he said.
According to him, in 2017 oil might cost about $70/barrel. The way towards the price rise will not be easy and investors had better pay attention to high volatility.
Today a barrel of Brent cost $31.84, Texas light oil -$32.04.
