Oil Price Long Term Forecast

IMF forecasted that oil price in 2015 will stablized at mid-50 dollars range, to slowly rise to just above-70 dollars in 5 year time.

What does this mean? As the production of commodities is highly dependent on oil price, consumers will benefit from lower costs of commodities in the long term.

A Filipino Engineer, Registered Professional Engineer of Queensland (RPEQ) - Australia and Professional Electrical Engineer (PEE) - Philippines with extensive experience in concept select, front-end engineering, HV & LV detail design, construction and commissioning of Hazardous and Non-Hazardous Area electrical installations in water and waste water pipeline and pumping facilities, offshore platforms, hydrocarbon process plants and pipelines including related facilities. Hazardous area classification and design certification (UEENEEM015B, UEENEEM016B, UEENEEM017B).