Oil prices will remain within the range between $40.00 and $60.00 this and next year, because the growing deliveries will cover demand with excess, believes Yan Taylor, Senior Executive Director of the biggest independent oil trader of the world Vitol.
The oil proficit means that the resources will continue expanding in the coming next quarters and the excessive resources will be unloaded no earlier than 2017 at best, he said in his interview to Bloomberg agency.
If the forecast comes true, then the countries makers and the oil industry will have to go through a long-lasting period of decline, which last time always happened after the financial crisis in 2008-2009 when the prices dropped to $36.00 per barrel and then went up to almost $80.00 per barrel during a year.
“The oil prices will get stuck between $40.00 and $60.00 this year and in 2016. I do not see any reasons going higher and could go even lower,” said Taylor.
