28.04.2016 - World Bank optimistic on oil averaging at $41 this year
World Bank boosted its forecast for oil prices this year, projecting that refinery demand will pick up and United States production cuts will steepen in the second half of 2016. Crude prices will average $41 per barrel this year, which is still down 19 per cent from 2015, the Washington-based development bank said on Tuesday in its quarterly commodity-markets outlook. The bank in January had predicted a price of $37 per barrel, which represents a composite of projections for the Brent, West Texas Intermediate and Dubai Fateh blends...............................................Full Article: Source
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