“The price forecasts vary depending on who you ask, but they all have some variation of a sharp movement in either direction. Goldman Sachs said in a research note on Monday that oil prices will quickly rise to the low-$50s per barrel if OPEC succeeds, and the investment bank assigned a 30 percent probability to such an outcome. However, if OPEC members cannot overcome their differences, oil prices could average just $45 per barrel through the summer of 2017. Others are much gloomier.
“If OPEC does not come up with a credible agreement to cut production on Wednesday oil prices will end the year below $40 a barrel and be chasing down $30 a barrel early next year,” David Hufton, CEO of PVM Group Ltd., told Bloomberg”
Great call Surf !
Gutsy
“The price forecasts vary depending on who you ask, but they all have some variation of a sharp movement in either direction. Goldman Sachs said in a research note on Monday that oil prices will quickly rise to the low-$50s per barrel if OPEC succeeds, and the investment bank assigned a 30 percent probability to such an outcome. However, if OPEC members cannot overcome their differences, oil prices could average just $45 per barrel through the summer of 2017. Others are much gloomier.
“If OPEC does not come up with a credible agreement to cut production on Wednesday oil prices will end the year below $40 a barrel and be chasing down $30 a barrel early next year,” David Hufton, CEO of PVM Group Ltd., told Bloomberg”
http://oilprice.com/Energy/Oil-Prices/Oil-Prices-To-Sink-Or-Skyrocket-What-Can-We-Expect.html