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20

Fund Manager Franklin Templeton Bets on Higher Oil Prices

By Tony Seruga

Firm pours money into shares of independent producers
Current price of $50 a barrel isn’t enough to boost supply

Franklin Templeton Investments, a fund manager with $740 billion in assets, is pouring money into shares of independent oil exploration and production companies, betting that crude prices will rise further.

The California-based fund manager, which is among the largest shareholders of natural resources groups including BP Plc, Total SA, Glencore Plc and Chevron Corp. through dozens of funds, believes that $50 a barrel isn’t high enough to stimulate the increase in supply needed to meet future oil demand…

Fund Manager Franklin Templeton Bets on Higher Oil Prices

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