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

|By:, SA News Editor

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.