In our 4th Quarter Oil Price Update, we explore the latest developments that impact the oil industry. A gradual market rebalancing begins but risk of oversupply lingers for the global oil industry. How will OPEC, the Trump Administration and other developments impact oil prices? Will we see more consolidation in the industry?
What is certain is that prices will continue to be extremely volatile as industry fundamentals seek an equilibrium. Oil prices are likely to recover but slowly. Analyst forecasts suggest prices may reach US$60/bbl+ by 2018.