Experts offer 2010 outlook for oil prices
Jan Stuart of Macquarie Securities and Peter Gastreich of UBS answer the question: Do you expect a surge in oil prices in 2010 given the prospect of improving GDP rates in the second half of this year? How should investors position themselves?
A macro economic recovery, however fragile, plays a key role. Across Asia
We think oil prices next year will average US$70 per barrel, which would be a 33% surge from our target average of US$53 per barrel for Brent oil futures in 2009.