Quotes from Bank of Cyprus:
-Last year the price of WTI dropped by 50% from its year high. OECD and IMF estimate global GDP growth of 3.9% and 3.8% in 2015, respectively. OPEC's World Outlook 2014 expects world oil demand to be 92.3 mb/d in 2015 compared to 91.1mb/d in 2014.
-The International Energy Agency (IEA) that expects demand to reach 93.3 mb/d in 2015. We expect that global demand will drive prices higher in 2015 specifically in the second half.
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