Jakarta (Benchmark News) – Analysts projected crude oil price fluctuation still would often occur. However, this trend will still rise because it is long been in the weak area.
Analyst Danareksa Securities Lucky Bayu Purnomo said crude oil prices, the target will be at the level of US $ 52 per barrel, from the last price of US $ 50 per barrel. Over the past 52 weeks the price of crude oil is the range of US $ 52 per barrel. Crude oil never touched the lowest price at the level of US $ 34 per barrel and the highest level US $ 53 per barrel.
The potential performance of crude oil tends to be strengthened in order to test the highest level in the range of US $ 52 per barrel in the short to medium term, he said in Jakarta, Monday (24/10/2016).
According to him, the potential performance of the price of crude oil are in the positive momentum. It is after crude oil experienced a weakening before, and are at the lowest range. Crude oil will be strengthened at the level of US $ 52 per barrel, as prices weakened already before, he said.
Earlier, the World Bank estimated the price of crude oil rose to a level of US $ 55 per barrel in 2017 from the previous US $ 53 per barrel. The projections assuming members of the Organization of the Petroleum Exporting Countries (OPEC) will limit production.
Overall, the price of energy commodities includes crude oil, natural gas, and coal is projected to grow 25% in the next year….(Red)