Crude Oil: A Review Of 2015 And Outlook For 2016

Korey Bauer

Crude Oil 2015 Review and 2016 Outlook – In Charts

In 2015, crude oil has been down 19% and continues to fall further as the global glut remains intact. Crude traded as high as $62.58 on 5/6/15 and as low as $37.75 on 8/24/15.

Interestingly enough, the average price traded year to date is $49.97, while the 200 day moving average is sitting at $50.19.

In order to analyze charts, I utilize a regression. Prior to the bounce that occurred on November 23rd and 24th, crude traded in harmony with the low of the regression channel.

Crude Oil Price Chart – 2015

crude oil prices decline chart year 2015

 

Oil Production:

When viewing this chart, one can see that production exploded over the last five years.

us oil production history chart_department of energy eia

 

The oil output in the shale region of North Dakota is now producing less oil in September than it did in 2014.

crude oil north dakota bakken boom chart years 2011 to 2015

Rig Counts:

In this chart depicting the U.S. rig counts, one can see that there was a complete collapse over the last year.

baker hughes crude oil rig chart years 2006 to 2015

 

Inventories:

This U.S. Crude Oil Inventories by Year chart depicts what is known as a “glut”.

crude oil inventories by year chart 2005 to 2015

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