An online survey by OilandGasInvestor.com shows many energy-industry observers see any drop in oil prices as short-lived.
When asked how high oil prices will go this year, 49, or 35% of the 140 participants believe the price will be between today’s price ($139 at press time) and $150. Only 18 (13%) say prices will not go higher than current levels.
Most of the respondents believe prices north of $150 are on the way: 40 say prices will be between $150 and $175 by year’s end (29%); 20 expect $175 to $200 (14%); and 13 (9%) expect the price will be above $200.
Oil prices took a shallow dive recently, thanks in part to a stronger dollar. Light, sweet crude for July delivery fell $4.38 to $132 a barrel on the Nymex by noon June 12.
On that day, the dollar gained ground after the Commerce Department said retail sales rose in May by the biggest amount in six months as 57 million tax-rebate checks reached consumers. The 15-nation euro fell to $1.5409 from $1.5571.
See the newest survey at OilandGasInvestor.com and answer “Will the MLPs return to the buyer’s table this year?”
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