Oil Heading for $60 May 30, 2016, 11:34 AMFull article on Oilprice.com........... Getting there Doug. Price/sentiment.... The UAEs economy minister sees oil jumping to $60 per barrel in the next few months. "Its possible for oil prices to reach $60 or more during this summer, UAE economy minister Sultan Bin Saeed Al Mansoori said at a conference in Abu Dhabi on May 30. There is a growing chorus of oil market watchers that see the oil price rally continuing, after rallying more than 80 percent over the past several months. According to Bloomberg, the global chief economist at Standard Chartered Plc says WTI and Brent will rise above $60 before the end of the year, and SEB Bank agreed that the markets would see oil prices above $60 in 2016.