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Oil price expected to rise to US$80 in 2016

Friday, January 1, 2016 - 05:50

The precise price to be seen at any moment in 2016 is unpredictable. But elemental oil market forces suggest that a barrel of black stuff will revert back towards its 10-year mean above US$80.

THE next big move in the price of oil will be up. For now, Organization of the Petroleum Exporting Countries (Opec) producers are flooding the market with cheap crude. But low-cost Opec producers will win the hydrocarbon price war because they can fight harder for longer. And when they win, the

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