OPEC forecasts a recovery of oil price rise in 2016
Edited by Rhod Mackenzie / 2015-12-16 11:58:17
In the near future the oil price rise is expected, the head of OPEC, A. al-Badri, said at the meeting with the Minister of Oil and Gas of India, D. Pradkhan.
I have been in this business all my life and have seen very high prices. Now we see very low prices. However, it won’t be in future, he said.
According to him, oil prices might start to grow within a few months or a year. Due to the price fall the sector lost $130 bln of investment within a year and oil supply by the countries-not members of OPEC will fall by 400 thousand barrels a day next year.
