Big Banks Are Raising Their Price Targets For Oil

Large investment banks are upping their price targets for oil as crude futures hit levels not seen since the early days of a slump in December 2014.

According to reporting by CNBC, “The banks says the long-oversupplied oil market is tightening up more quickly than expected as global economic growth fuels demand and output cuts by OPEC, Russia and several other producers eat into the world’s crude stockpiles.”