Oil prices set to increase in late 2016 as demand recovers Qatar minister says price slide partly linked to Brexit vote The Organization of Petroleum Exporting Countries will hold informal talks at a conference in Algiers next month and considers the recent decline in oil prices “temporary,” the group’s president said Monday. “Expectation of higher crude oil demand in the third and fourth quarters of 2016, coupled with decrease in availability, is leading the analysts to conclude that the current bear market is only temporary and oil price would increase during later part of 2016,” Mohammed Al Sada, Qatar’s energy minister and holder of OPEC’s rotating presidency, said in a statement on the group’s website. Members constantly discuss ways to stabilize the market, he said. Oil tumbled into a bear market last week, ending a recovery that saw prices almost double from a 12-year low in February. The renewed […]