Oil traders in two very different camps on where price is headed.

Reuters: “Peak oilers have become almost extinct, destroyed by the arrival of new technologies with the U.S. leading the oil supply change,” said David Hufton of oil brokerage PVM.” Who agrees? “A request by Reuters for forecasts of 2020 prices drew 20 responses from consultants, banks and energy analysts. The poll produced a mean average of $118 a barrel for North Sea Brent, suggesting little change from the current level around $110. / But only five of the 20 are actually predicting prices anywhere near the mean average. / The real story is in the division between the two camps. Setting aside the demand side of the debate, the argument about supply is simple. One camp argues that the upside from shale oil supplies will be more than enough to meet demand growth. The other disputes that, saying the likely impact from shale is being exaggerated. ….The top bull is Barclays Capital, $24 clear of its nearest rival with a $184 forecast for Brent. Barcap heads a group of six that put Brent at $140 a barrel or higher.”