
OPEC Downgrades 2020 Price Expectation by $20 per Barrel
OPEC’s annual report sees its oil reference point at $60 per barrel in 2020 The Organization for Petroleum Exporting Countries released its annual World Oil Outlook Tuesday, lowering its working assumption for oil prices moving through the end of the decade. OPEC sees its reference basket (ORB) price averaging $40 per barrel in 2016, and increasing $5 per year through
