Prospects for 2016

In 2016, the prospect of an oversupplied crude oil market continues dropping prices down further. Records high for Russian crude oil production. U.S. crude oil exports to peak up. OPEC to maintain their current high production strategy. Weak economic growth in emerging market economies persists particularly in China's manufacturing sector.

Despite 2015 being one of the worst year for the oil & gas sector, oil price for 2016 will stabilize that will lead to an expected recovery. Happy New Year!

7171 = 7168 = 7175

About the Author

Ver Pangonilo

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).

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