Three Key Factors That Are Changing The Oil Trade 05/17/17 •lweb.es/f2844 •bit.ly/2sX1ktC
This article considers three principal drivers for the oil trade: technology, weather and OPEC policy: • Fracking technology is highly influential: The graphs “Crude oil historical patterns”, showing changes over the last 5 years compared to the last 15 and 30 years, and the graph “US Crude oil production” from1983 to 2017, show the relevant impact.• Extreme weather: A growing number of weather events costing $1 billion have been experienced, as well as significant losses in production. • OPEC strategy is less effective now… The graphic “Does OPEC policy influence prices anymore?” asks a very pertinent question.