Thank finance for sharp oil price decline

by Steve Austin, July 26, 2017 in Oil-Price.Net

US wins, Middle East loses

While US scores with increased rig count and production, the oil industry in the Middle-East is festering with under investment. Said to be in trillions, the lack of investment could boomerang as supply deficit within a decade. Let’s not forget that oil exploration is a long term development in which a decade is but short. Why are the investors moving away?