Last year, oil prices rallied all the way up to a four year high before plunging more than $30. There were many factors at play during that volatile period, most notably the Iranian sanctions and the resultant promise by OPEC+ to boost production to avoid a supply shortage. Volatility appears to have continued into 2019, with uncertainty rife across a number of key areas in this year’s oil markets. Demand – OPEC estimates suggest that there will lower oil demand in 2019 due to various factors. In its most recent Monthly Oil report, the cartel revised its demand growth forecast down by 100,000 bpd. Goldman Sachs has also “ slashed its oil price forecast ” due to concerns regarding oversupply and relatively weaker demand. If these predictions are accurate then falling demand growth will likely impact prices throughout the year. China’s economic health – It may not be possible […]