Wednesday 27 January 2016

OIL PRICES MAY CRASH FURTHER BY 27% IN 2016, SAYS WORLD BANK

oil-pricesThe oil producing countries with higher cost may need to brace up for further cost efficiency, as indications emerged that the crude oil prices may crash further by 27 per cent this year.

The latest report by the World Bank released and obtained by The Guardian yesterday, lowered its 2016 forecast for crude oil prices to $37 per barrel from $51 per barrel in its earlier (October) projections

Read more @ Guardian Online

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