(The views and opinions expressed in this article are those of the attributed sources and do not necessarily reflect the position of Rigzone or the author)
In this week’s preview of what to watch in the oil and gas markets, Rigzone’s regular energy forecasters take a look at a notable downtrend in the oil market, winter weather demand, distortion of the market and much more. Read on below for the details.
Rig zone: What news/trends will you be waiting for this week?
Tom Seng, assistant professor of energy, Ralph Lowe Energy Institute at Texas Christian University: In the volatile market that is crude oil, we have gone from a perceived global shortage that had prices approaching $95 a barrel in early November to less than $80 a barrel last week. Winter weather doesn’t seem to cause much demand for diesel and time is running out. Inventories, once close to being sold out, increase weekly. Absent a major geopolitical disruption or natural disaster, oil demand will likely remain weak until refineries ramp up production ahead of the summer driving season.
Barani Krishnan, Senior Commodity Analyst at uk.Investing.com: More market distortion of oil elks that defy reality.
To contact the author, please send an email andreas.exarcheas@rigzone.com
