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Sydney - Friday -July 1:(RWE Aust Business News) - Sydney based firm Shaw Stockbroking has has upgraded its oil price assumptions.
"We believe that higher oil prices are sustainable for at least the medium term, driven by strong supply/demand fundamentals.
"Despite the substantial upgrades our oil price assumptions remain relatively conservative compared to the current forward curve out to 2010," the broker says.
It believes all oil producers are highly leveraged to higher oil prices and Shaw's preferred exposures are BHP Billiton, Hardman Resources and Amadeus Energy. Woodside Petroleum, at current price levels, is more suited …