Economics
Qatar's Energy Minister Says Oil Prices Have Bottomed Out
- Non-OPEC supply growth slows, to remain flat or turn negative
- Call on OPEC oil is expected to become `healthier' on demand
Is the Crude and Commodities Relief Rally for Real?
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Global oil prices have bottomed out, with signs of a recovery seen in 2016, Qatar’s Energy Minister Mohammed Al Sada said.
Growth in non-OPEC crude oil supply slowed “substantially” this year and is likely to remain flat or turn negative in the next, Al Sada said in an e-mailed statement on Sunday. “Call on OPEC oil is expected to become healthier,” to 30.5 million barrels a day in 2016 from 29.3 million in 2015, he said, citing increasing demand from both developed and emerging markets.