Who knows Frank when Barclays are saying,
Barclays is one of the very few financial institutions that is actually predicting oil prices to increase in 2016 despite the recent slump and worsening supply glut. As per
Barclay’s corporate banking team, oil prices would increase mostly because of doubling of global oil demand growth from 2.1 million barrels a day to almost 4 million barrels a day.
"There is no doubt that the UK North Sea oil and gas industry is under pressure right now but we do feel that signs of relief are there, and the forecast for $60 oil in 2016 with oil demand growth above trend again is encouraging," said the head of Barclay’s Corporate banking team. This prediction made by Barclays in is sharp contrast to the recent
Oil Market Report by IEA, which predicts the global oil demand to slow down from the current 2.1 million barrels per day to just 1.2 million barrels a day by 2016.
