Latest news

What 2016 Holds for The Oil & Gas Industry

16th December 2015

Trying to predict the future trends of oil prices is hard and the results are disappointing most of the time, especially when we ignore the facts and figures and rely on hope and wishful thinking. A year ago following OPEC's decision not to cut oil production and keep the oil market oversupplied, many of oil industry experts, analysts and CEOs were expecting oil prices to recover in a short time. Hence, the oil and gas industry's reaction to the current downturn was not as fast as it should have been and the consequences in many cases were catastrophic.

A few days remain to officially close the door on 2015. As the eagerly awaited December 2015 OPEC meeting is over, and as the outcome tells us that the cartel is not going to cut back its current actual output level unless non-members cooperate in doing so, many questions have arisen concerning the oil and gas industry and whether 2016 will be another 2015 or a better year. Where will oil prices be in 2016? How will the 2016 supply and demand outlook look, and could it change the course of events? In general, what will 2016 hold for the oil and gas industry? Such questions are what many oil and gas companies, investors and professionals want answers to. Here few answers:

Read more at: Link