We had lingering global economic downturn, economic uncertainties in the developed countries, and declining energy demand in developing countries in 2014. Oil prices dropped sharply in response to the oversupply in mid 2014 as shale oil output kept growing in the US. OPEC countries declined to cut production in an attempt to maintain their market share, but accelerated falling oil prices.
The year 2015 is expected to see oversupply, declining profitability of upstream enterprises, opportunities for downstream enterprises or an active trading market. But uncertainty will remain given the economic downturn and geopolitical tensions.
Click to read Energy Outlook Magazine's article Oil and Gas: Joys and Worries. (Chinese Only)
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