Oil price may drop another $20 by the end of Q2
Chairman of the Facts Global Energy consultancy revealed the figures to delegates at AOGC 2015
Oil prices, trading around $67 per barrel, could drop another $10-20/b by the end of the second quarter this year, Fereidun Fesharaki, chairman of consultancy Facts Global Energy (FGE), told delegates to AOGC 2015. During his Crystal Ball presentation, Fesharaki said there has been no demand response yet and that production of oil is still much larger than the market can absorb. Inventories continue to fill up, while traders are holding long positions in the paper markets, which are very nebulous and could easily be easily triggered into liquidation. But “you need a trigger and when it comes, there will be a drop in the price of oil anywhere between $10-20. Now what the trigger is I don’t k
Also in this section
16 April 2026
Demand for oil is falling because supply cannot meet it, not because it is no longer required
16 April 2026
The continent has an immediate opportunity to make the most of its energy resources by capturing gas that is currently slipping away
15 April 2026
The continent is seeing political pushback to climate plans, corporate reassessment of transition goals and rising supply risk in a fractured global order
15 April 2026
The Middle East energy crisis may turn out to be pivotal to the industry’s long-term expansion, but significant challenges still stand in its way
