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10 June 2019 07:55

Maria Gregoriou

Predictions for the 2020 Oil Market are Turning Sour

A few months ago, predictions were that the oil market for 2020 would be the one to look out for as “many market commentators predicted that if $100/bbl-oil was going to make a comeback, it would happen in 2020,” according to Bloomberg. But the release of the first official assessment of 2020 by the International Energy Agency on Friday shows persistent surpluses could be accumulated next year. This does not indicate rising prices, which were previously predicted and the reason why investors kept a keen eye on the oil market.

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