Over-Saturation: Issues of Uncertainty Shrouding Global Oil Markets
Global crude oil prices are expected to hover around the current level for the foreseeable future. That is, as long as the reasons behind this free-fall remain unchanged, the relationship between supply and demand will continue to be imbalanced and in favor of supply. This is due to increasingly over-saturated global markets where the situation of oversupply is predicted to continue at around the same levels, and even exacerbate in the near future driven by the "expansionist" oil policies pursued by both the United States and Russia, in addition to the prospect of Iranian crude oil returning to the global markets.
