Tuesday, January 3, 2017
‘New normal’ for oil pricing.
Since 2008, commentators have frequently applied the phrase ‘new normal’ to the changing market and trading conditions that enterprises find themselves in. The oil and gas industry is no different. More than two years after the sharp drop in oil prices in 2014 and despite the recent OPEC-non-OPEC output cuts, oil is now in a potential new normal regarding price. While oil is often used as a proxy for the industry, this new normal impacts the whole fossil fuels sector.