| The World Bank is raising its 2016 forecast for crude oil prices to $ 41 per barrel from $ 37 per barrel in its latest Commodity Markets Outlook. This represents a drop of 19 per cent from the 2015, as an oversupply in markets is expected to recede.
In a statement made available to the Ghana News Agency by the World Bank’s Online Media Briefing Centre (OMBC), it said improving market sentiment and a weakening dollar was responsible for its position. It said the crude oil market rebounded from a low of $ 25 per barrel in mid-January to $ 40 per barrel in April, following production disruptions in Iraq and Nigeria and a decline in non-organisation of the Petroleum Exporting Countries production, mainly United States sale...............................................Full Article: Source
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