Oil Prices Up

In London the Monday morning stock market reacted to news from OPEC that the organization expects global demand to remain strong in 2016 and China will remain weak. Oil futures rose to $48 per barrel on the London market after falling over 4% last week. Abdullah al-Badri, Secretary-General of OPEC said, "We see global oil demand maintaining its recent healthy growth. We see less non-OPEC supply. And we see an increase in the demand for OPEC crude,” all seen as balancing factors for international oil prices.