• Global Gas Analytics
  • Analysis & Forecasts

Executive Summary Oil market outlook

September 2018

Declining oil production in Iran and Venezuela, together with low oil inventories in the United States, will continue to support global oil prices. Nevertheless, price gains will be limited by the fear of knock-on effects from the economic crises in Turkey and Argentina, as well as the effect that the ongoing US-China trade war will have on oil demand.

The deepening economic woes of Iran and Venezuela – partly a result of US sanctions – will be a significant obstacle to oil production in both countries....