Oil prices likely to stay volatile – World Bank

FXStreet (Mumbai) – The World Bank on Wednesday said the oil prices are likely to stay extremely volatile but maintained its bearish view.

Key Points

Oil seen averaging $53 per barrel in 2015 & 2016

Current prices require significant government expenditure adjustment in Russia in 2016 and beyond

Russian authorities have successfully stabilized economy, but sees contraction of 3.8% in 2015 improving to -0.6% in 2016

The World Bank on Wednesday said the oil prices are likely to stay extremely volatile but maintained its bearish view.

(Market News Provided by FXstreet)