Oil could hit $80 per barrel by the end of 2018, says portfolio manager

by Dramelin 12:00 AM 0 comments

This year could mark a comeback for commodities, with oil potentially hitting $80 per barrel, a portfolio manager said on Wednesday.
Restrained production among major oil producers and the "greater impetus" to maintain stability ahead of the widely-anticipated initial public offering of Saudi Aramco will support prices further this year, said Yoon Chou Chong, head of Asian equities at Natixis Asset Management.
"We`ve done a lot through the exporters, tech and we`re still happy with them.
(But) I think this might be the year for the return of the commodities, the oil," Chong told CNBC.
He named commodities as a top trade for 2018.
(doesn`t) sound too preposterous, actually," he added.