With your mention on Goldmans , one has to remember they recently revised their oil price forcast up from top end of the scale at 40$ a barrel tops maybe this year, this time they were well out and admitted so with the revision. . Listening to Goldman interviews you quickly realise they are the more bearish of commentators, what they actually invest in for clients though can be kept under the cloak of privacy nether the less I do believe they are genuinely more conservative on oil futures like a large section of the market reflective in the current price.
Hedge fund manager Kyle Bass however is not so certain and is predicting a strong recovery , Merrill and Lynch also expecting a gradual return to realistic prices
We will wait and see , certainly we are entering at the bottom of a cyclical period in oil its a matter of timing for entry because a week too late and the chance for a multi bagger will dissipate in a blink.
AKK Price at posting:
0.7¢ Sentiment: None Disclosure: Held
