Alliance Trust analyst remains confident in oil price

The oil price will remain above $50 a barrel over the next three years due to the rising demand of em...

The oil price will remain above $50 a barrel over the next three years due to the rising demand of emerging Asia, said an analyst on the Alliance Trust. Angus McPhail, a specialist in global oil and natural resources is dashing any concerns that the price will dramatically fall and said in addition the gradual decline of the oil price will be checked by political instability in a number of countries. He predicts a $5 a year fall until prices reach $50 in three years, when they will settle. He said the strengthening of the price of oil has been a key market trend over the past decade, i...