Barclays Capital, a division of Barclays Bank PLC located in the U.K., has upped its projected oil cost for the year 2015 from $93 a barrel to $137 a barrel after record high prices in oil futures this week.
In 2006 after oil reached a "record-high" $75 a barrel, Barclays had made the 2015 projection of $93 a barrel.
In a Barclays research note forecasting the spike in price, analysts noted that "the remorseless move up in long-run prices has not yet fully played out."
We want to hear from you. Questions, opinions and suggestions are all welcomed by the Rigzone Staff. Write us at email@example.com .
Most Popular Articles
From the Career Center
Jobs that may interest you