How do you think the recent IEA report will influence oil prices and the overall markets?

MNSL answered one year ago …

I do not think any type of reports can influence oil market now. Some energy experts believe oil markets to be depressed until 2015. I totally agree with them now. From 2015 onwards some expect oil to trade $70 a barrel. However all depend on the developments of alternative oils, world growth, world situation at that time and some other factors. . It is too early to forecast long term trend in oil. I think we can see clear direction in oil market in 2015.

I think there will be some positive developments in the energy sector surprise to many before 2015.

Factors to consider now:

Recession
Slower world growth
Falling demand world wide

Sooner than later oil can come down to $35 dollar. Many commodity countries specially mining oriented countries will hit hard.