Cable News Clips

The UAE leaving OPEC is a sign that producers have serious concerns about the long-term demand for oil, and want to get more oil out of the ground now rather than later.

Europe and most of Asia have reached their limit on exposure to unstable political systems were most oil resides, and will take steps to reduce demand. I don't think these places will eliminate demand, but they will drive down demand enough that there is far more supply than demand, and oil will be cheap. This is a problem if you are a producer, especially an expensive producer like Russia, the U.S. or Canada. The shale oil boom has a high probability of ending within the next 5 to 10 years.