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Oil analyst: Why crude could double in 2016

The price of U.S. crude, which bottomed on Feb. 11, should hit $85 per barrel by the end of 2016, oil analyst Mike Rothman said Monday, a projection that's nearly double what some on Wall Street have been forecasting.

"You have two things going on here this year: One is demand growth and the other is contraction of non-OPEC supply, the first time in about eight years," the founder and president of energy research firm Cornerstone Analytics told...