| The average oil prices are expected to rise to 64.1 per barrel in 2016, from an expected 56.2 per barrel in 2015, according to a research note issued by the QNB. Oil prices have rebounded by 33.1 percent since their trough in January to 62.0 per barrel. A research conducted by QNB to find out what is behind this recovery showed that demand was ingle-handedly behind the recent recovery, but that supply was responsible for the majority of the 60 percent collapse in oil prices in the second half of 2014.
"Our conclusions about the relative roles of demand and supply are supported by independent data from the International Energy agency (IEA). This suggests that the recovery in oil prices still has legs as the adjustment through lower supply is yet to happen...............................................Full Article: Source
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