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oil price

By Che Liu posted 10-16-2015 04:46 AM

  
Hi, My name is che liu, a student from petroleum university in China , As US shale gas revolution changed global oil price,especially WTI, how long can we pull through a weak economy for oil price ? In china,the employment of oil industry seems serious year than year ,how can we face this problem correctly . THX :)
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Chiemela Amaechi
10-27-2016 11:54 AM

Honestly, shale gas involves some issues than we expect. Currently in Lancashire, UK, there has been some approval to carry out fracking too. Hopefully, these will also provide some energy alternatives too. 

The fact that oil price has gone down globally is economics dependent on the forces of demand and the OPEC countries not having full control of the oil and gas sector globally. 

Countries that depend on oil like Nigeria have recently felt alot of recession due to oil price dropping to almost $30 and coming back up. I wrote an article some months ago on this oil price and the full details on it. There is hope!!!

Jonathan Burwell
10-30-2015 11:20 PM

The world market is a very sensitive scale but energy is as vital as food and water in today's society. Opportunities will arise as soon as stabilization of the market returns. There have been reports saying oil will return to $75 a barrel to maintaining $50 in as early as 5 years. Fracking in the US and the conventional reservoirs of the Middle East allow to produce oil at a very low cost, so where opportunities close to home like China may not be as abundant, oil career opportunities will always be present to those who seek them as long as you are willing to follow your dream.
This is just an observation from one student to another. Best of luck in your studies!