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Brave or foolhardy? Francisco Blanch, BofA's head of commodities research, reckons West Texas...

  • Thursday, January 31, 11:27 AM ET
    Brave or foolhardy? Francisco Blanch, BofA's head of commodities research, reckons West Texas crude could temporarily fall to $50/bbl in the next two years, as the U.S. and Canada between them are set to increase output by more than 800K bbl/day thanks to surging shale oil production, and the global demand picture also doesn't look rosy.
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This news story has 8 comments:

  •  
    Like anyone will remember what they forecast in two years.
    31 Jan, 11:29 AM Reply Like
  •  
    Blanch has Gold going to $2400 by the end of 2014....he just wants volatility
    31 Jan, 11:31 AM Reply Like
  •  
    President Obama's energy plan is working, cheaper oil & gas with millions of new jobs in coming 3 years.
    31 Jan, 11:34 AM Reply Like
  •  
    You have got to be kidding me. Obama has as much impact on the price of Oil as I do. New jobs? Yeah we need some to counter those we keep sending to China.

    Let's see. We spend $1.2 Trillion more than we take in and unemployment is still 7.5%. If they count it properly, it is more like 14%. We will need to spend $2.5 Trillion more. That's the Obama way.
    31 Jan, 01:38 PM Reply Like
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    quite possible..E&P guys will be shutting in holes quickly. Don't think I would want to own BAS, RES, or FTK if that were to happen.
    31 Jan, 11:36 AM Reply Like
  •  
    A couple of errant missiles in the Mideast and their whole pricing scenario looks foolish. If WTI dips into the 60's the Canadian Sands, Bakken and the other US/Canadian unconventional plays slow down in a hurry. My best guess is we will see volatility in WTI. Play it.
    31 Jan, 11:41 AM Reply Like
  •  
    New pipelines and railcars are adding takeaway capacity and lowering the discount to Brent. WTI in the $50's seems like a stretch without a massive recession.
    31 Jan, 12:02 PM Reply Like
  •  
    Google the Cline shale.
    31 Jan, 09:09 PM Reply Like
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