Oil OutlookHarold Hamm CEO of Continental Resources,said Wednesday he believes the price of oil will double to$60 by the end of 2016. "We're heading to a short supply situation" he said in a Wednesday interview with the Wall Street Journal. "That's going to get very concerning in the latter part of the year" He believes companies will reduce production till the market recovers." Production in Russia is slowing down.The oil pipeline monopoly Transneft said Russian companies are likely to cut production by 6.4% over the course of 2016. (Daily Telegraph) The key question is this driven by markets or is it part of a political move to pave the way for a deal with the Saudis. B