Published: Oct 20, 2016 12:20 p.m. ET

The World Bank raised its 2017 forecast for crude-oil prices to $55 a barrel from a previous forecast of $53 a barrel, according to a quarterly report issued Thursday. It attributed the higher price forecast to the Organization of the Petroleum Exporting Countries’s preparations to limit production. “We expect a solid rise in energy prices, led by oil, next year,” said John Baffes, senior economist at the World Bank. Still, he noted that there is “considerable uncertainty around the [oil] outlook as we await the details and the implementation of the OPEC agreement.” The World Bank left its oil-price forecast for this year unchanged at $43. The forecast is an average of Brent LCOZ6,-2.37% West Texas Intermediate CLZ6, -2.05% and Dubai crudes.

 

http://www.marketwatch.com/story/world-bank-raises-2017-crude-oil-price-forecast-to-55-a-barrel-2016-10-20