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Bloomberg experts forecast oil price of $50.00 per barrel in 2015

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Bur-Neft-Oil-400x268In 2015 Brent oil price could drop to $50.00 per barrel. This is the forecast based on the poll of 17 experts released by Bloomberg agency today. Brent oil price already dropped by 47% from $114 per barrel this June. Experts believe that the price will continue declining, till the supply exceeds the demand.

            According to the US Energy Information Administration, during the first week of December oil production in the country has reached a record index of 9.12 million barrels a day. The growth of oil production volume has occurred, because of getting access to the shale oil fields Bakken in North Dakota and Eagle Ford in Texas using technologies of horizontal drilling and hydraulic seam fracture.

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