Looking at 2017

At the start of a new year, it is worthwhile to look back at the decisive events that impacted energy markets. It is incontestable that 2016 was an extraordinary year filled with stunning price volatility. The year opened with WTI and Brent prices sliding into the mid-$20 per barrel due to an expanding supply glut. However, in the second half of the year, on the back of news of a coordinated OPEC production cut (which was consummated in November) prices rallied to close above $50 per barrel.

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