Oil to bounce back to US$ 80 in THREE TO FIVE YEARS – Templeton


Just in time for nuclear fusion to be practicable.

Dateline 2015-04-10, Malaysia Chronicle:

Global oil prices could bounce back to US$80 (RM290) per barrel over the next three to five years as there is barely 2% imbalance in supply and demand of oil, according to Templeton Global Equity Group executive vice president and portfolio manager Alan Chua.

“Even though US$80 per barrel is not very exciting from where we’re right now, but from US$50 to US$80, it would give a more than 50% gain,” he told a press conference after a fund launch here yesterday.

He said if there is a slight change in supply scenario or the global economy grows stronger, the 2% imbalance will go away quickly.

Chua noted that as funding for new oil and gas investment has come down, the oil supply should be muted in the next few years, with oil prices could easily rebound to over US$80 per barrel.

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