BofA Reduces Near-Term Outlook for Brent Oil, Offers Six Oil & Gas 'Stocks for Summer'
Analysts from Bank of America have composed a list of six U.S. oil and gas "stocks for the summer". These stocks are predicted to rise as demand for oil and gas will likely rise this summer.
The six stocks Bank of America has its eye on are: Anadarko Petroleum (NYSE: APC), Occidental Petroleum (NYSE: OXY), Marathon Oil (NYSE: MRO), Pioneer Natural Resources (NYSE: PXD), Devon Energy (NYSE: DVN), and Chesapeake Energy (NYSE: CHK).
In the report analysts from Bank of America also cut their near-term estimates for Brent Oil on slowing momentum from China. Bank of America lowered its price forecast of Brent oil from $111 to $103 during the second half of 2013 and from $112 to $105 over 2014.
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