29 May '16, 1am

Why Predicting Oil Prices Is Hard: Two years ago this week the price of West Texas Intermediate (WT...

Domestically, crude oil production is likely to expand again in 2014, and given the logistical constraints and insufficient demand growth in the US, prices will be pressured to the downside. There is the possibility of a recovering US economy boosting demand, but it is hard to imagine that demand will grow as quickly as oil production… Spare capacity is still tight, but some of the hotspots from the past few years, like Libya, are stabilizing. There is also the possibility of seeing crude oil exports from Iran start to pick back up. This may allow global crude oil capacity to gain a little bit of a cushion this year.

Full article: http://peakoil.com/consumption/why-predicting-oil-prices-...

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