The oil price slid to rock-bottom at below USD 28 per barrel, but is now on the rise again, project several top traders according to Bloomberg. So it is not unlikely that the price per barrel will reach USD 50 over the course of next year.
"The down market is behind us. We are going to have lots of volatility going forward. From here on the trend is up," says Torbjorn Tornqvist, CEO of Gunvor Group Ltd.