TD economist Dina Ignjatovic in a client note on oil:

  • Expects oil prices to fall in coming weeks
  • Continued OPEC output at high level, combined with continued high US output weighing on price
  • Says US output should decline a little from H2 of 2015 as investment falls
  • Looks for oil around $60 in near term, head higher in 2016 (average of $70 bbl in 2016)