The Rise And Fall Of The Oil Market:
The scenario of oil price was not the same few years back, between 2010 and 2014, the demand for oil was high and because of the lesser supply the price of the crude oil soared to a decade high. The prime reason for lower supply was credited to stagnating oil fields and conflict in Iraq and Libya this forced the many countries to draw their stockpiles leading to the high price of oil to $100 per barrel.
However, this high price paved the way for the drillers in the US to unlock new oil resources. Using their hydraulic fracturing and horizontal drilling technique to dig in places like North Dakota and Texas and discovered new oil beds. Since then, the oil production started rising high.
This finally helped to close the tape between the demand and supply and then exceeded it. By 2014, the demand had started to fall down. China’s economy was stumbling, Europe was still trying to get over the Eurozone mess, meanwhile, the US had started producing oil and Iraq and Libya at the same time restarted their oil production which led to more supply and lesser demand by the world, thus the prices had slid down to $70 per barrel. Meanwhile, Saudi Arabia had also increased the oil production to maintain its market share, which further added to the lowering of crude oil price globally.
Demand Is Rising Too:
Amidst all this downfall of crude oil price, a silver lining can from China and other evolving markets that are using more oil, moreover, for the people in US and other places where the prices have fallen down it has made it easy for people to spend money on a car and other products.
However, few analysts believe that oil prices may rise high up to $50to $60 per barrel.
The whole price game of crude oil and its rise and fall on the stock ticker is solely driven by the demand and supply dynamics. If any conflict arises due to the cold war between Saudi Arabia and Iran leads it is surely is going to crimp the oil production leading to high oil price. Thus, the oil market is going to witness some ups and down in the coming times.
The investors are going to keep their eyes on the Led stock ticker to see how the market shapes up in the coming times.
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