Optimistic Oil Experts Still See Rally as Crude Hits New Lows
Oil Heads for Seventh Weekly Drop
This article is for subscribers only.
Oil analysts are, if nothing else, optimists.
So much so that no one seemed to see the 60 percent slide in oil prices coming when the commodity was trading at almost $108 a barrel on June 20, 2014. At the time, analysts as a group predicted oil would average about $100 a barrel this quarter and the most pessimistic called for $84, instead of the low $40s it’s languishing at.