Could oil hit $100 a barrel? Of course, many of us think that $100 oil is inevitable, but many top energy sector analysts who once thought it would take years for us to reach the $100 mark are now predicting that lofty price may be reached very, very soon.
With oil prices now comfortably in the $70-$75 range, the top energy minds at Goldman Sachs think that the $100 point may be only a few months away. According to a recent Bloomberg article, Goldman commodities analyst Jeffrey Currie thinks $95-$100 crude is likely this year unless OPEC unexpectedly increases production.
Another analyst, Jeff Rubin at CIBC World Markets, predicts $100 a barrel as soon as next year. John Kilduff, an analyst with futures broker Man Financial Inc. said, "We’re only a headline of significance away from $100 oil." The article in Bloomberg went on to say that higher oil prices will result in a big increase in revenue for energy producers like Exxon Mobil Corp. and other major oil companies.
All of this chatter over $100 of oil is music to our ears, as subscribers to both my High Monthly Income and Successful Investing advisory services continue collecting big profits from exchange-traded funds and Canadian oil trusts, whose value tends to move higher along with the increased cost of crude oil.
Of course, nobody knows for sure if the price of crude will continue pushing higher at its current pace, but what we do know for sure is that we keep making money in sectors directly connected with oil.
If you want to find out more about how to ride the geyser of higher crude oil prices, I invite you to check out both my High Monthly Income and Successful Investing services to see if they are right for you.