13.06.2016 - Will crude oil price ‘reach’ $60/barrel before year-end?
The surprising news is that oil prices have doubled since the start of this year. It is currently hovering around $55 level and is anticipated to hit the $60 level prior to the end of this year. This news came as a surprise for everyone particularly the oil-producing countries. They did not expect to witness such high increase in oil prices within a short period — from $27 per barrel to $52 in less than six months. The oil producing nations can soon witness the doubling of their income and can look forward to some positive news. Now that the oil fundamentals are back at work suddenly, crude oil inventories are on the decline as the USA has lost more than 3 million barrels...............................................Full Article: Source
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