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 2021. In the group’s last World Oil Outlook, OPEC pegged ORB prices at $80 in 2020, $20 per barrel more than what the group now believes it will receive for its oil at the end...

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