The increasing demand for oil and limited production capacity have kept oil prices relatively high during the past decade. However, recent downturns in the US economy and the EU have pushed prices down, and production capabilities have been able to meet declining demand. Increased shale gas production in the US has also played a role in shaping recent oil pricing. Today, oil prices are on the rise again. Nonetheless long-term prices are expected to remain between 50 – 90 USD per barrel, partially affected by Asian refineries reluctance to cut production levels in order to significantly increase prices.
Nordea Private Banking has offered private banking and asset management services in Finland since 1987. Nordea Private Banking magazine is their exclusive publication for Private Banking members. Published twice a year, it offers topical investment information and asset management related reading.
Based on an extensive analysis of oil price data from various sources, in collaboration with Sanoma’s publishing team and Nordea Private Banking, we analysed and designed a thorough information graphic explaining the oil phenomenon globally. The produced information graphic provides an overview into oil production and consumption and the EU’s role in the process.