Oil to reach over $150/bbl in 12-18 months

The shift from fears of a double-dip recession and deflation into an inflationary period will be the main driver behind oil reaching new highs, which in turn will push up energy and commodity company valuations, says Kaha Kiknavelidze, managing partner at hedge fund firm Rioni Capital.

"Overall, we are coming out of a debt crisis and a deflationary environment and into an inflationary one that will be very supportive of the oil price," says Kiknavelidze. "I believe there is a possibility of oil r