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Research Outline
Prepared for Barry S. | Delivered February 3, 2020
Oil Price Outlook
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Goals
Determine the outlook for oil prices in the next twelve months as well as what is driving the price changes.
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Early Findings
Overall Outlook
For WTI Crude Oil, the overall outlook is that prices will
increase
through 2020 and 2021.
Positive Drivers
O
verall positive expectations
for the global economy going into 2020 are positively affecting the crude oil outlook for the next 12 months.
The announcement of a potential first phase of a
trade deal
between the US and China is positively affecting crude oil price outlook.
The
production cuts
announced by OPEC and partner countries in December 2019 are putting upward pressure on crude oil prices.
Negative Drivers
The outbreak of the
coronavirus
in China is putting downward pressure on prices.
Building
oil inventory
in the US is depressing prices.
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