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Slightly higher oil prices in H2 as oversupply eases: World Bank
However, it expects prices of other commodities to fall this year on elevated supplies, weak growth prospects
Add BT as a preferred sourcePublished Tue, Jul 26, 2016 · 09:50 PM
Tokyo
THE World Bank has again raised its forecast for oil prices in coming months, although only modestly compared with the dramatic recovery seen in the early part of this year. Meanwhile, the outlook is for prices of other commodities to decline, says the World Bank.
In its latest Commodities Markets Outlook report published on Tuesday, the Washington-based institution raised its 2016 forecast for crude oil prices to US$43 per barrel from US$41 per barrel, owing to supply outages and robust demand in the second quarter.
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