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Two major investment banks, Bank of America Merrill Lynch and Barclays, have recently predicted that oil prices in the medium-term will remain locked in around $60/barrel until 2024. Bank of America believes that crude prices will bounce between $50/barrel and $70/barrel, but will remain centered around $60/barrel and most likely won’t leave that range. Barclays largely agrees with Bank of America in the belief that the volatility won’t continue and we’ll have relatively stable oil prices through the mid-2020s.
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