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Brent and WTI Go Below $33/b

The international market of crude oil seems to be seeing a downtrend again. In particular, Brent oil dropped by $32,77/b earlier today. This is a 2,3% decline relative to the previous close. As for WTI oil, it also dropped, this time by nearly 2% down to $32,52/b. In general, the current state of affairs in the global market of crude oil looks fairly logical. The thing is that the beginning of 2016 is associated with lower oil prices as well as a stock market crash.

Oil Predictions 2016 - $20/b - $100/b

According to the EIA, the average price of Brent oil in 2016 is expected to be somewhere around $56 per barrel (against $53 per barrel in 2015). Still, the agency warns that this prediction is unreliable since the oil market is probably going to be pretty volatile next year.

Royal Bank of Scotland: Oil Prices May Drop to $16/b in 2016

According to the Royal Bank of Scotland , oil prices may go down to $16 per barrel in early 2016. The experts say there is every reason to expect just that – increasing oversupply, lower demand and abnormally mild winter because of the so-called El Nino.

Oil Market 2016

As you can probably see, despite the current recovery, the global market of crude oil remains under downward pressure. Amid increasing oversupply, oil prices got down to 35 dollars per barrel and set a new 7-year low.

How Low Should Oil Prices Go for Russia to Start Reforms?

USA Cancels Oil Export Embargo, Global Market May See Major Changes

Last week, the USA made a major decision, which is expected to bring major changes to the entire global economy. The thing is that President Obama signed the 2016 draft budget. This is good news for U.S. oil companies since the oil export embargo is now canceled, which means those companies are now capable of exporting their oil. This is a major event since this is the beginning of a whole new era when the USA turned from an oil importer into an oil exporter. Some experts say this is going to bring some major changes to the global market.

Iran Isn’t Afraid Of Oil Prices Below $30/b

Innovative Technologies Will Cap Oil Price Potential

Some global tendencies are still pressing oil prices. However, few experts pay attention to the fact that technological progress seen over the last few decades has been contributing to alternative energies and curbing the upward potential of the global oil market, Masterforex-V Academy experts report.

Oil Sees Further Lows as Fed Raises Interest Rate

The international financial community has been waiting for this event for months. The thing is that the Fed eventually raised the key interest rate yesterday. The central bank decided to increase the rate by 0,25% up to 0,5%. For those of you who don’t know, the last time he Fed raised the interest rates was 2006, a couple of years before the global financial crisis.

U.S. Congress Approves Oil Export