Experts consider 80 US dollars per barrel a realistic oil price

Since mid-2014, the price for oil has dropped. The question is whether prices will pick up again, as the markets have recently suggested. Arthur D. little experts predict an oil price of around 80 US dollars a barrel as the “new normal”. The high oil price in the last year prompted strong investments in the oil business. New oil platforms were opened around the globe. This caused an economic surplus. Today many producers are no longer able to produce profitably with the new prices, which has reduced the supply again. Arthur D. Little experts believe that in the medium term the US will be the new global swing producer for oil. New fracking technology gives the country a chance to become independent from other suppliers. This development will weaken the position of the powerful OPEC states, which is dominating the global oil business today.

Experts consider 80 US dollars per barrel a realistic oil price

Since mid-2014, the price for oil has dropped. The question is whether prices will pick up again, as the markets have recently suggested. Arthur D. little experts predict an oil price of around 80 US dollars a barrel as the “new normal”. The high oil price in the last year prompted strong investments in the oil business. New oil platforms were opened around the globe. This caused an economic surplus. Today many producers are no longer able to produce profitably with the new prices, which has reduced the supply again. Arthur D. Little experts believe that in the medium term the US will be the new global swing producer for oil. New fracking technology gives the country a chance to become independent from other suppliers. This development will weaken the position of the powerful OPEC states, which is dominating the global oil business today.