Could Oil Plummet To $45?

Citigroup’s commodities chief Ed Morse believes Brent oil prices, which are currently trading near $72.50 per barrel and have tried to breach the $80 per barrel barrier in each of the last three months, will fall back into a band between $45 to $65 per barrel in just over a year. 

Morse was among the first forecasters to correctly predict the oil price crash of 2014 and now has long-term bearish view of Brent oil prices that runs contrary to calls for $70 to $80 per barrel oil by Goldman Sachs Group Inc., $85 per barrel prices by Morgan Stanley and over $100 per barrel oil according to Bernstein & Co.

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Who knows, these “experts” are approaching broken watch status - throw enough out there in the way of predictions and you’ll eventually get one

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