Analysts: Oil, Gas Prices to Recover in 2017

Analysts: Oil, Gas Prices to Recover in 2017
Oil and natural gas prices will recover this year, according to energy analysts from GMP FirstEnergy.

Oil and natural gas prices will recover this year, according to energy analysts from GMP FirstEnergy.

“With respect to energy we think both oil and natural gas prices are unduly depressed and should recover as the year progresses,” the analysts said in a research note sent to Rigzone.

GMP’s prediction is supported by a recent poll among Rigzone readers, who expect the price of Brent Crude Oil to rise to $60 per barrel by the end of the year.

 

 

At the time of writing, WTI Crude Oil was valued at $53.06 per barrel, with Brent at $55.98 and Natural Gas at $3.26.

In addition to forecasting an energy price rise in 2017, GMP presented its ‘top conviction ideas’ list in the research note, which outlined a number of companies it thought would perform well over the next 12 months.

Firms among the list included Africa Oil Corp, Canadian Natural Resources Limited and Trinidad Drilling Ltd.

A graduate in journalism from Cardiff University, Andreas has eight years of experience as a business journalist. Email Andreas at andreas.exarheas@rigzone.com

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Brent Crude Oil : $51.82/BBL 0.53%
Light Crude Oil : $49.62/BBL 0.12%
Natural Gas : $3.14/MMBtu 3.28%
Updated in last 24 hours