Waning global production could spur a recovery in US crude oil prices above $40/bl by the end of this year, Ponderosa Ad- visory director of research and analytics Bernadette Johnson said today. Johnson, speaking at the Argus Americas Asphalt Summit in Miami, said WTI crude oil futures are projected to reach $46/ bl by 4Q 2016, $52/bl in 2016, $57/bl in 2017 and ramp up to an annual average of $62/bl by 2018 on an anticipated drop off in global crude oil production.
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