Brentwood Group are thought to believe that although oil prices have dipped below $90 for the first time since February, a cut in production by OPEC may see the price return to $100.
Demand destruction in developed economies is seen as the primary driver of the price fall. A source close to Brentwood Group said that growing concerns over the state of the European economy may have served to exacerbate the negativity.
The Brentwood Group source suggested that the price of oil would be likely to return to over $100 a barrel as markets focused on the supply end of the equation and as OPEC cut back production in response to reduced demand.
Brentwood Group have reportedly been advising clients to acquire stocks in selected majors and oil exploration and service companies.
