Oil hedge fund BBL sees crude at US$80 after Opec cuts
With crude inventories down, Brent could climb 15% from current levels of US$68.50 a barrel
Wed, Jan 24, 2018 - 5:50 AM
The bullish forecast for oil is only short term, cautions BBL Commodities LP's founder Jonathan Goldberg. BBL is one of the world's largest oil-focused hedge funds. "We are not long-term oil bulls. We think we are in a very bullish part of the curve in 2018 but that dynamic will change over time," said Mr Goldberg.
BBL COMMODITIES LP, one of the world's largest oil-focused hedge funds, believes Brent crude will climb to US$80 a barrel this year as stockpiles drop rapidly on the back of production cuts made by the Organization of the Petroleum Exporting Countries (Opec) and its allies.