Oil Price Basic Supply & Demand and Future Need

Abstract

Crude oil price was collapsed since second half 2014, in oversupply world oil market; Among continuously evolved energy industry, and new industry ecologies characterized low carbon, the view that oil industry would be ruined, was arisen. With Brent oil price data on Augusts in 2017, global oil price motion was a Random Walk. The supply & demand of oil in global economic & social development was analyzed. The views that the difficult period of oil & gas industry was over, the future market of oil & gas was sufficient, the future demand of oil & gas was not ended up, was showed.