Prices will rebound in 2H to $40-$50 a barrel, with volatility Russia and Saudi Arabia’s agreement to cap oil output will help bring the market back into balance and trigger a rebound in prices in the second half of this year, said Daniel Yergin, vice chairman of energy consulting group IHS Inc. The world’s two biggest producers along with Venezuela and Qatar struck a tentative deal last month to cap production at January levels to stem a glut in supply that has seen prices tumble almost 70 percent in two years to below $35 a barrel. With a freeze, prices could recover in the second half to $40 to $50 a barrel, “but with a lot of volatility there,” Yergin told the Global Financial Markets Forum in Abu Dhabi Thursday. “This freeze is really a bridge to the autumn, and the autumn is when you start to see the […]