Michael Haspel Weighs in on Crude Oil Price Fluctuations

(Newswire.net — February 6, 2018) Dallas, Texas — The global crude oil market has faced incredible volatility over the past two years, with per-barrel prices fluctuating wildly. Oil and gas industry analyst Michael Haspel has observed market conditions in recent months and knows that supply and demand of oil products has influenced prices. High prices of over $107 per barrel of crude oil in the summer of 2014 and lows around $26 per barrel in February, 2016 demonstrate some of the pricing volatility in this market. “Prices have recovered and become steadier in the latter part of 2016,” says Michael. “Per-barrel prices stabilized to around $50 in December.” To learn more about the price swings in the crude oil market, visit http://seekingalpha.com/article/4042002-crude-oil-spreads-trending-toward-tightness.

Oil-producing countries, particularly among members of the Organization of the Petroleum Exporting Countries (OPEC), have largely complied with mandated OPEC production cuts, resulting in a better outlook for prices in 2017. These production cuts help to stabilize the market by balancing supply and demand on a global scale. Natural gas prices are also expected to rise significantly from 2016 levels, with industry analysts predicting prices around $3.55/MMBtu, over a dollar more than average prices in 2016. “Price increases in oil and gas production mean that companies will see higher earnings in 2017 and beyond,” says Michael, who has spent the past 20 years as an analyst in the oil industry. “Even though the price of crude leveled off at the end of last year, the price is expected to rise slightly to just under $60 per barrel by the end of 2017.” Michael recently reflected on oil production increases in countries like Indonesia, Russia, Saudi Arabia, and the United States. Development of new oilfield resources and global production incentive programs were partially responsible for the increases.

Michael Haspel is Director of Operations at Haspel Land & Petroleum, headquartered in Dallas, Texas. His analytical expertise in the gas and oil production industry has made him a well-respected resource for energy companies worldwide. He knows how critical it is for companies to monitor pricing trends and to balance supply and demand for oil products. By doing so, these companies can maintain or even increase profitability, bringing stock prices up and keeping investors happy. “The global oil and gas production industry is a complex market with many variables,” adds Michael. “Regulatory changes, the political environment, and development of new resources all play a part in prices of crude oil, natural gas, and products such as gasoline.” For more information on Michael’s work, visit https://www.crunchbase.com/person/michael-haspel.