Excerpts below will provide additional lift to energy sector especially oil producers. I will let you speculate...
Excerpts from CBA Insights Issue 195 10 February 2011 (4.30pm)
Oil: Six factors driving prices in 2011
Summary of previous report dated 08/02/11 CBA oil price view: Towards USD100/bbl in 2011 and 2012 We expect WTI crude prices to keep pushing through USD100/bbl in 2011 and 2012, as ongoing world recovery replaces the weak USD as a key driver of oil prices from mid-late 2011.
We expect six key themes to drive oil markets in 2011: 1. Increasing risks around the USD and inflation expectations.
2. Increasing geopolitical instability and inflation policy mistakes.
3. Increasing scale and volatility of investor flows.
4. Demand recovery dominated by emerging markets.
5. Growing dependence on new OPEC supply.
6. Unconventional gas and liquids development.
SSN Price at posting:
12.0¢ Sentiment: LT Buy Disclosure: Held
