| The price of oil isn't going to rebound as quickly as had been predicted — thanks to ramped-up worldwide production, lower demand and stockpiled supplies — but the market is expected to regain its balance in 2017, according to two industry forecasts.
The global financial services firm Deloitte predicts in its September forecast that the average price per barrel will be $47 US for the remainder of 2016. In July, Deloitte said prices would hover around $50 for the rest of this year, possibly touching $60 at some point in 2017. The firm now projects oil prices to average $51 per barrel in 2017...........................................Full Article: Source
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