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5 Jan 2016
Crude oil could hit $60.00 in H2 2016 – TDS
FXStreet (Edinburgh) - According to strategists at TD Securities, the barrel of crude oil could climb to the $60.00 level by the second half of the current year.
Key Quotes
“Our commodity team expects WTI oil to remain subdued through most of 2016, not reaching the $60/bbl mark until the second half of this year”.
“This reflects little incentive for OPEC to adjust production quotas to squeeze high cost producers and additional supply as Iran sanctions are lifted”.
“Even if oil prices rebound, the drag to growth will persist as the price of oil would remain below levels that would incentivize additional investment”.
Key Quotes
“Our commodity team expects WTI oil to remain subdued through most of 2016, not reaching the $60/bbl mark until the second half of this year”.
“This reflects little incentive for OPEC to adjust production quotas to squeeze high cost producers and additional supply as Iran sanctions are lifted”.
“Even if oil prices rebound, the drag to growth will persist as the price of oil would remain below levels that would incentivize additional investment”.