Low oil prices lead to new reality for offshore industry
29 September 2015The sharp fall in oil prices has far reaching consequences for the oil industry. The price of crude oil is determined by supply and demand. This article explains some fundamental developments that influence the demand and supply of the oil market. For the next 25 years the developments in the oil market are forecasted based on the change in the energy mix and the geopolitical situation. Finally, some considerations are described for companies active in the oil industry.