| Oil prices could return to 60 US dollars (£39) a barrel next year as global demand doubles, experts have predicted. A paper from Barclays Corporate Banking insisted there are "growing signs of hope on the horizon" for the industry, which has been hit hard by the drop in price.
Oil costs currently stand at just under 45 US dollars (£29) a barrel, compared to 114 US dollars (£74) a barrel in June 2014, with the fall having forced many North Sea operators to cut jobs. The energy sector is " facing one of the most challenging periods in its history following the sudden and prolonged fall in oil price from mid 2014," the Barclays paper said.............................................Full Article: Source
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