There’s to be cheap petrol for a year according to oil industry sources, as the Saudi government promised to continue pumping record amounts of oil.
AS of December 31 2015, Brent crude was slightly up at just under $38 dollars a barrel - but was very near the 11 year low posted earlier in December. The American Bench mark of West Texas Intermediate was at much the same, at $37.67. With the Saudis intending to pump more and more oil, analysts foresee WTI possibly hitting the $20 mark.
So the outlook for the next year remains the same, expect low energy prices; but as ever unforeseen shocks can always happen.
