Oil prices will continue to be under pressure in 2019, but they won’t collapse, as was the case back in 2016. “Russia, Saudi Arabia and the US form an uneasy triumvirate of the global oil market. “China is facing its own growth issues, as evidenced by recent manufacturing activity data.”Slower economic growth will keep up the downward pressure for oil prices in 2019. Still, Matsopoulos doesn’t see oil prices collapsing in 2019, as was the case back in 2016. Table 1Oil Forecast for 2019 By Month And Seasonal PatternBy Way Of Deviation From SEASONALITY YEAR MONTH The Seasonal Model PATTERN 2019 1 46,06 50,04 2019 2 47,33 50,14 2019 3 47,14 51,09 2019 4 50,34 51,09 2019 5 52,19 51,90 2019 6 55,68 51,61 2019 7 54,10 51,30 2019 8 53,02 52,04 2019 9 54,53 52,79 2019 10 54,10 51,91 2019 11 50,75 50,36 2019 12 48,32 49,28Source: http://seasonanalysiskm.blogspot.com/While, it’s unclear which forecast will come true, one thing is clear: volatility will continue in the oil market.

Source: Forbes January 06, 2019 14:59 UTC