Abu Dhabi's Al Mansoori: Oil Can Reach $60

The video discusses the end of global oil surpluses and the factors influencing oil prices, including economic growth and supply-demand dynamics. It predicts future oil prices based on economic data, highlighting the recovery of China and strength in European and U.S. economies. The global economy's growth is expected to stabilize oil prices between $55 and $60.

What is the expected price of oil for 2016 as mentioned in the text?

What role does the economic data play in predicting oil prices?