Oil market finally approaching balance?

Atradius_Economic_Research_Oil_market_update_Feb_2017_EN01

Thanks to rising demand, the OPEC’s decision to curb production and US’ shale sector resilience, the barrel stayed at USD 55 since Q4 of 2016. It is expected to stay around USD 56 until 2018, where supply will slowly stop meeting demand, thus increasing the price to USD 79 per barrel by 2020. But the situation could change rapidly, depending on whether new projects investments come through, and on the supply glut being stemmed or not.

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