Emerging Markets Says Oil Prices to Rebound to $60

The emerging-market investment pioneer Mark Mobius said he expects oil prices to rebound to US$60 a barrel by the end of the year as the supply of crude shrinks, giving a measure of relief to major oil producers like the UAE and other Arabian Gulf nations. Oil prices have shot up by almost 20 per cent in the last three months since declining by as much as 70 per cent since mid-2014.

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