Former BP Chairman Bob Dudley said six years ago that oil prices would be lower for longer. But that was six years ago.
Today, analysts are predicting higher for longer, The Houston Chronicle reports. Crude prices are at seven-year highs—above $80 a barrel—and analysts are betting that the bull market in energy has more room to run—at least through mid-2022. Some of the country’s biggest banks, such as Goldman Sachs, have forecast oil again reaching the mystical $100-a-barrel level; Bank of America is predicting oil will reach $120 by 2022.
Serinus Energy plc (LON:SENX) is an international oil company with operations in Romania and Tunisia. The focus of the Company is to enhance shareholder value by growing oil and gas production through the efficient allocation of capital.