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OPEC, UAE expect oil price recovery soon

OPEC, UAE expect oil price recovery soon

 

United Arab Emirates – Mubasher: An OPEC official and the UAE’s Minister of the Economy said on Monday that they expect a recovery in oil prices soon.

Oil prices reached their lowest levels and may expect a recovery soon, OPEC Secretary Abdullah Al Badry said.

Oil prices are expected to see a recovery by June 2015 as major economies begin to improve, the UAE’s Minister of the Economy Sultan bin Saeed al-Mansouri said on Monday.

The International Monetary Fund’s (IMF) recent report had said that falling oil prices will prompt the global economy to gain additional growth by 0.3%-0.7% in 2015.

 

 

Photo Credit: Arabianeye-Reuters