Quarterly oil market outlook from Global Risk Management
We have just released our quarterly oil market outlook where you get our take on the past quarter's events and oil price development as well as our expectations to the development of the oil prices in the coming period.
Since our last quarterly outlook in April, oil prices have continued the upward trend as supply disruptions and sanctions have taken or are about to take barrels off the market.
The OPEC and non-OPEC decision to increase crude oil production last month only gave a short downward blip as markets continue to worry about the deteriorating situation in Venezuela and U.S. re-imposing sanctions against Iran. Even though the U.S. crude oil production continues to increase, infrastructure has a hard time following and thus moving the many barrels is limiting exports from the huge oil producer. Read our special feature analysis about this topic.
All in all, we see a continued bullish trend in oil prices, especially in the longer term. Click the link to read more details and see our oil price forecast.
Oil price forecast