Credit Suisse expects the oil price to hit $50.

Home / Oil / Credit Suisse expects the oil price to hit $50. FORECAST

According to Credit Suisse’s global equity research analysts the price of Crude oil may reach as high as $50/bbl by May 2016.

The analysts mentioned that the fundamentals improved in February, so the demand will also remain strong, as the world is not “heading into recession, or worst”.

Brent Crude closed above $38 on Friday, jumping more than 4.4%.

A photo taken on November 1, 2011 shows the logo of the Swiss banking giant Credit Suisse in Zurich. Credit Suisse said on November 1 that third-quarter net profit rose 12 percent from a year ago to 683 million francs (562 million euros, 776 million US dollars), but said it would cut staff by three percent. AFP PHOTO / FABRICE COFFRINI (Photo credit should read FABRICE COFFRINI/AFP/Getty Images)

 

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