Goldman Sachs expects oil prices to peak at $ 59 a barrel during summer amid growth in the US shale oil production. Oil Market Outlook in early 2017 will largely be determined by the oil-producing countries cuts, which in the summer will lead to a decrease in reserves of oil in storage until the normal levels.

However, the production of shale oil in the US is growing rapidly, and the number of drilling rigs operating in is at a 13-month high.