Oil & Gas Prediction 2015 #1 - Oil to be $60 or lower into H2
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The price of Brent crude oil has plummeted by 45 per cent in recent months and there are no indications that an uptick will be on the cards in the first two quarters of 2015. Lessened demand in the Eurozone and a slowing Chinese economy, combined with oversupply in the USA and the proclivities of an OPEC that will benefit in the long run from a cut-price crude, are all inhibitors to a rebound in the price of Black Gold. Analysts have mooted that oil could sink as low as $40 per barrel in the first half of 2015, which would have severe consequences for the global economy.
