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!