June 18, 2012
By Frank Holmes, CEO and Chief Investment Officer, U.S. Global Investors
Oil industry executives and bankers are assuming oil prices will stay above $100.00 a barrel in the year ahead, despite mounting economic worries, as any fall below that level would trigger a cut in Saudi Arabia's output and force closures at high-cost projects around the world. A Reuters straw poll of oil executives, traders, bankers and fund managers showed seven respondents predicting Brent crude trading at $100.00-$120.00 a barrel in the next 12 months.
Source: This was excerpted from U.S. Global Investors' Advisor Alert, May 18, 2012, www.usfunds.com.
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