Today's Stunted Oil Prices Could Cause Oil Price Shock In 2020
Many companies, including oil giant BP, have begun efforts to develop of artificial intelligence programs with algorithms that will allow them to find and drill with unprecedented accuracy in the future
By Oilprice.com -- Haley Zaremba—— Bio and Archives--May 23, 2017
Global Warming-Energy-Environment | Comments | Back To Full Article
As oil prices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil's immediate future. As Saudi Arabia announces plans to slash production and move their economy away from oil dependency, many industry insiders are predicting that the now over-saturated market will reach an equilibrium with higher commodity prices by 2018 and U.S. shale production will continue to grow along with global demand.
Robert Johnston, the CEO of one of the world's biggest political risk consultancies, is unconvinced. In a speech made at the Association of International Petroleum Negotiators' 2017 International Petroleum Summit, Johnston laid out his concerns for the future of oil.
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