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Pro Analysis

Analyst who called oil rebound: $80 is next stop

Workers on a drill site at the Permian basin outside of Midland, Texas
Brittany Sowacke | Bloomberg | Getty Images
Workers on a drill site at the Permian basin outside of Midland, Texas

The price of oil is going to rise to $80 in the next year on supply constraints, according to Raymond James' energy analyst J. Marshall Adkins, who correctly predicted a rebound in crude at the start of 2016.

"Like $50 oil? You ain't seen nothing yet," Adkins wrote in a note to clients Monday.