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Leader Capital see oil at $71 by end of Q-2
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— OIL UPDATE —
Leader Capital Believes Oil at $71 by Q2 2016 & $87 by Q3 2016
By John Lekas | April 12th, 2016
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Back on 2/1/2016, we had a target of $79 oil by end of Q2 2016. As Q1 2016 supply and demand numbers have come in, we continue to believe the price of crude oil (WTI) should move upward dramatically. With the most recent oil data, we are revising our targets on oil to $71/bbl¹ by June 30, 2016 and $87/bbl¹ by September 30, 2016 based on the SPREAD between supply and demand (see chart below). When consumption and supply are at parity, the price of oil should be $71/bbl¹ or higher particularly with consumption moving higher.
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