Chief Economist David Rosenberg of Gluskin Sheff and Associates Inc. believes market fundamentals support oil at $85-$95 a barrel, a view shared by Richard D. Soultanian of NUS Consulting Group, commenting that “The market is pricing in a lot of risk and a lot of fear right now”.
On Tuesday, Richard Bernstein, Chief Executive Officer at Richard Bernstein Advisors LLC (RBA) offered bullish commentary for the broader energy sector for 2011: “if the economy is indeed beginning to enter the mid-phase of the cycle, then energy and materials stocks begin to take leadership positions. We expect both global sectors to outperform in 2011.”
Get our independent commentary on oil and gas trends and companies delivered to your inbox.
