Crude oil prices are poised to fall below half where they were six months ago, before producers begin dealing with a global glut.

Мы ожидаем, что цены на нефть будут находиться на уровне в среднем 80 долл. за баррель в следующие три года. Такое значение средней цены следует из консенсус-прогноза ведущих аналитиков.

North Sea Brent crude oil spot prices fell by more than 15% in November, declining from $85/barrel (bbl) on November 3 to $72/bbl on November 28. Monthly average Brent crude oil prices have declined 29% from their 2014 high of $112/bbl in June to an average of $79/bbl in November, the lowest monthly average since September 2010. The November price decline reflects continued growth in U.S. tight oil production along with weakening outlooks for the global economy and oil demand growth. The Organization of the Petroleum Exporting Countries' (OPEC) decision in late November to maintain its current crude oil production target, despite lower oil prices, put additional downward pressure on price expectations.

'Contraction unavoidable’ as oil prices fall

EIA expects U.S. crude oil production to average 9.3 million barrels per day (bbl/d) in 2015, up 0.7 million bbl/d from 2014

Rosneft and Essar Agreed on Key Terms of Oil and Oil Products Supplies to Essar Refineries

Crude oil prices extended their slump on the New York market with a Dec. 11 settlement of less than $60/bbl for January, and prices continued downward in early Dec. 12 trading after the International Energy Agency cut its global oil demand growth forecast for 2015.

Rosneft and Essar Agreed on Key Terms of Oil and Oil Products Supplies to Essar Refineries

U.A.E. Says OPEC Won’t Change Output Even If Price Drops to $40

World Oil Demand Outlook Cut Again; Sub-$60 Price Seen Holding

4% Global Economic Growth Predicted to Boost Oil Price in 2015

The last 48 hours witnessed a frenzy of diplomatic activities by Balkan and Southeastern countries with both Russia and Europe, underlining the importance of this area for the ongoing if relatively silent confrontation between Moscow and Brussels/Berlin.

The head of OPEC said on Sunday the group had no target price for oil, signalling no change to a policy to maintain production levels which has contributed to sharp falls in the price of crude, unnerving global markets.

China, Kazakhstan to sign $10 billion in deals including oil, infrastructure

Oil's slide to the lowest price in more than five years is carving a divide between U.S. shale drillers who heavily hedged future production and those who didn't.