Barclays: oil prices will inevitably rise
According to Barclays, despite the recent decline of oil, it is just a question of time before the prices start growing. The specialists explained their point of view in the special report called Upward bound.
Barclays expects oil prices to start rising in the next few years at higher pace than expected by the majority of investors. The main reason of the upcoming growth in the significant reduction of investments in oil production and development of new fields.
“During the period from 2016 to 2010 we expect oil demand to rise from 0.9 to 1.4 billion barrels a day. Oil prices will grow at faster pace than priced in the futures market. Otherwise, there will be a deficit of supply at the market,” concluded Barclays.