Photographer: Susana Gonzalez/Bloomberg

Oil to Recover More Slowly Than in Past Shocks, World Bank Says

  • Development lender downgrades 2016 forecast to $37 per barrel
  • Prices seen making a recovery to $48 per barrel next year

Oil will recover more slowly this time than it did following the major price shocks of the last 30 years, the World Bank predicts.

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