Arab Opec sources see oil back above US$70 by end-2015

Abu Dhabi

ARAB members of the Organization of the Petroleum Exporting Countries (Opec) expect global oil prices to rebound to between US$70 and US$80 a barrel by the end of next year as a global economic recovery revives demand, delegates of the cartel said this week in the first indication of where the group expects oil markets to stabilise in the medium term.

The delegates said they may not see - and some may not even welcome now - a return to US$100 any time soon.