This will be a volatile year for oil and natural gas prices, an analyst told a recent industry forum.
“It’s going to be rough,” Nicole Leonard, senior energy analystin commodity consulting for S&P Global Platts, told executives at S&P Global’s recent Midstream Energy and Oil and Gas Breakfast Forum. “2017 is going to be volatile and prices are going to be all over the place because prices this year probably won’t be driven by fundamentals. It will be driven by people in the market trying to bet on OPEC and the U.S.”
Leonard acknowledged that a sense of optimism was emerging among industry players as the price of West Texas Intermediate (WTI) crude has lingered around $55 per barrel (bbl). She just doesn’t agree.