Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Nothing Has Really Changed In The Oil Market Since The 2014 Crash

Published 01/08/2017, 12:38 AM
Updated 07/09/2023, 06:31 AM

We discuss the EIA Weekly Oil Report, check out the Futures market, and discuss the longer term outlook for the market given mature and declining demand in the developed world, massive supply potential to come to market, electric vehicle adoption, and slumping global demand due to the end of the current business cycle, and potential global recession over the next 16 months.

When consumers had the lowest gasoline prices since 2004 and electric vehicles had their best year yet, and Ford and Mercedes both have a fleet of new electric vehicles planned for production over the next two years, the oil market may be in a longer term secular downtrend with lower highs and lower lows being established over the next decade. OPEC and Russia are still producing far more oil than they were in July 2014 by a large margin!

Saudi Arbia Crude Oil Production

Russia Crude Oil Production

US Crude Oil Production

Iran Crude Oil Production

Iraq Crude Oil Production

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.