| Qatar National Bank (QNB) has revised its oil price forecast to average $44.7 per barrel in 2016, up from its previous forecast of $40.8/barrel, state news agency QNA said. In its monthly market update, QNB said rebalancing in the oil market has been “stronger than expected”.
Continued rebalancing is expected to lift prices to an average of $55/barrel in 2017, up from a previous forecast of $51.3 in 2017 and $57.9 in 2018. The revised forecast is based on rising demand growth – the International Energy Agency (IEA) expects global demand growth to reach 1.4 million barrels per day (bpd) this year, up from a previous forecast of 1.2 million bpd, QNB said...............................................Full Article: Source
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