Oil Price Targets

Back on April 8th, we published the first chart below highlighting the consensus price targets for oil from commodity analysts surveyed by Bloomberg.  Oil was trading at $108 at the time, but price targets were still well below that in the $80-$90 range. 

With the recent spike to $140, analysts have upped their price targets on oil to $125-$128 through the first quarter of 2009.  Over the last couple of months, analysts have turned more bullish on the commodity.  Only time will tell if this bullishness was prescient or too little too late.

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