The Organization of the Petroleum Exporting Countries said Friday that oil prices will remain below $100 a barrel in the long term, but should bounce back from current levels as demand for crude will rise more than currently expected. The forecast comes as the oil cartel’s members—many of which need a price of over $100 a barrel to balance their budgets—have been grappling with free-falling oil prices. Late last year, the group abandoned its traditional role of cutting production to bolster prices, triggering a global battle for market share among its members and others, including U.S. shale-oil producers. International crude prices have fallen another 15% in the past few weeks, after an early December decision by OPEC to stand pat on that strategy. In extracts published Friday from its closely watched World Oil Outlook, OPEC said it now assumes the price of the reference basket of crude oil produced […]