Energy Energy Trading

What is the prospect for crude oil futures in the next 1 to 2 yrs?

By Nicholas Newman
Oil trading application on tablet

I should think that oil price will stay much as it is already, because of the following reasons:

  1. The failure of OPEC production cuts to impact on oil prices.
  2. The current flat demand for oil.
  3. The huge amount of oil stored around the world.
  4. The likelihood, that OPEC member states will increase output in order to maintain market share and government revenues.
  5. Increasing interest by energy companies in American fracking production.
  6. The growing number of rigs coming online in the US and Canada, resulting in increasing North American oil and gas output.
  7. The revival of Mexican oil production.
  8. Advances in automation and technology are having on demand for oil and oil output.
  9. The growing use of gas and renewables.
  10. For more read The World Energy Outlook 2017.

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