“Oil prices are the big story for 2015. They are a once-in-a-generation shock and will have huge reverberations.”
The start of 2015 sure had a different tone in the oil industry than that of a year ago. Crude oil prices were heading towards $100 per barrel and beyond, with seemingly no end in sight. Companies flush with cash chased assets and human talent with ever rising premiums and salaries.
Newcomers to the industry had never experienced a bear market.
How quickly things can change in commodity driven businesses. Those who have been around for a while are wondering how far this can go, and how companies will navigate 2015.
Kenneth Rogoff, professor of Economics at Harvard states, “Oil prices are the big story for 2015. They are a once-in-a-generation shock and will have huge reverberations.” Be sure to read this great article on Bloomberg on How $50 Oil Changes Almost Everything.
It’s sure to be another exciting year in the oil patch!
Related Article: Upstream vs. Downstream
Read more about the difference between upstream and downstream segments of the oil and gas industry. Join the Oil 101 learning community today to learn more.
