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Contrarian fund managers expect oil prices to double to $100 by 2018
http://on.mktw.net/2nOO8lG

Fears of a global oil glut have returned to sink oil prices in March, but two fund managers argue that supplies are much tighter than traders realize. They expect oil prices to roughly double, to $100 a barrel, within a year.

Prices for oil trade around $50 a barrel and recently set lows for the year, but that doesn’t worry Leigh Goehring and Adam Rozencwajg, managing partners at Goehring & Rozencwajg Associates.

“We’re actually more bullish than we were before,” said Goehring, in an interview with MarketWatch.

“The underlying fundamentals of what we‘ve outlined for everyone…are happening right in front of us and yet people are becoming more and more bearish, so you’re setting yourself up for a very, very big, positive surprise,” he said.

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