Market Insights

November 17, 2015 • Posted in Market Insights

Week of November 16, 2015

  • Oil prices fell sharply last week as a report from OPEC predicted higher demand and prices in 2016 but acknowledged that a supply glut will persist into 2016
  • Major oil companies do not share OPEC’s optimism regarding higher prices in 2016
  • The sharp decline in oil prices puts much of America’s Eagle Ford,  Bakken and Permian oil fields at a break even price of (WTI) $60 or less
  • Data shows a drop in China credit activity to the lowest level in 15 months, adding to existing concern about growth in demand for oil and other commodities
  • Data from IHS on previous oil-price downturns shows that low prices could persist for anywhere from 3 to 15 years

 

Previous Oil Price Downturns

 

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