
World Bank Raises its 2016 Oil Price Forecast to $41
Sees Global Glut Shrinking in 2016 Looking toward a receding global oil oversupply, the World Bank has raised its 2016 price target for oil to $41, up from $37. In its latest Commodity Markets Outlook report, the organization cites the effects of lower production from U.S. shale and disruptions in Iraq and Nigeria. The report, published quarterly, looks at global supply and demand

