Oil Worth Outlook 2017: Turnaround Focused In Late 2017

With crude prices comfortably beneath $forty, the oil worth outlook for 2016 will not be as shiny as market watchers may have hoped.

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2014 got here to an end with analysts warning that 2015 would possibly only provide slight relief to depressed oil costs. Brent crude ended 2014 with a fall to $US62 per barrel, whereas West Texas Intermediate (WTI) oil prices fell to about $59 per barrel for the same period.

Without much to go on, oil prices had an uphill battle provide any relief to the market. Although each Brent and WTI managed to float above $US60 for a few of 2015, ultimately, oil costs began to fall quite drastically by July.