(Bloomberg) 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.
