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World Bank revises upwards energy-price forecasts for 2017

It expects crude oil to reach US$55 a barrel by next year, in line with analysts' projections

Oil prices are expected to average US$43 a barrel in 2016, but are slated to strengthen in 2017. Producers and consumers now seem comfortable with US$50-US$55.


THE World Bank has raised its 2017 forecast of the price of a barrel of crude oil to US$55 a barrel, up from this year's US$53.

It also expects a "solid rise in energy prices led by oil" next year, it said in the latest edition of its Commodity Markets Outlook report.