You might be holding on for some time…..but good luck.
Raymond James lowers oil forecast for 2016
Posted on August 10, 2015 | By Robert Grattan
HOUSTON — Raymond James said Monday that an oil price rebound doesn’t look likely in 2016, as international production continues to surge and demand growth looks shakier than ever. Analysts at the financial services firm said that they lowered their projected U.S. oil price for next year to $55 per barrel, down $10 from the $65 per barrel oil target previously set. Raymond James’ 2015 U.S. crude forecast is for $50 oil.
“Oil market sentiment is currently as ugly as it’s been since January,” analysts wrote in a report, “The industry is set for a second straight year of painful austerity.”
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