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Friday, May 5, 2017

Oil prices won't go higher in the future. Here's why!

USA had discovered some big oil fields recently that would put the world's pricing power in its hand.

Coupled with its shale oil technology, it is able to be self-sufficient and export its oil.  Therefore, its oil imports will start to dwindle and eventually stop and this will greatly affect the middle east oil markets.

1 comment:

Eric Ho said...

Opec cannot keep cutting its oil production because it will be losing market share to USA. Selling lesser oil means lesser government incomes which Opec needs for its social and economic developments.