Is Cheap Oil Here to Stay in 2016? Two Market Experts Predict What the Price Will Be

Editor's pick: Originally published Jan. 6.

Trying to predict the markets is incredibly difficult, if not impossible, but each year two investment heavyweights give it their best with highly anticipated annual predictions lists: Blackstone's Byron Wien and TheStreet's Doug Kass.

The price of oil is a point of departure for the two experts.

Wien says oil will "languish" at around $30 a barrel. "There is too much supply out there and too much inventory," he said. "The price of oil will go up, but not this year."

Kass believes that oil will exceed $60 a barrel in 2016, noting that he had a contrarian view on oil falling to below $40 in 2015. This year he is of the opposite view. "A Mideast attack on oil facilities lifts oil to $60 or more," he wrote in a follow-up email to TheStreet.

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