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UAE optimistic about $60 oil price by 2016, defends OPEC's position not to cut production

by posted 5years ago 1915 views
The UAE Energy Minister Suhail bin Mohammed Faraj Al Mazroui on Wednesday defended Opec's decision not to cut production in the face of falling prices as Barclays came up with an upbeat forecast that oil price is likely to rise to $50 by the end of 2015 and increase to $60 in 2016.