Energy

Oil markets should expect volatility, IHS Markit’s Yergin says

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A rise in U.S. shale oil output and lackluster global demand will create volatility for oil markets, according to Dan Yergin, IHS Markit’s vice chairman.

“The pipeline bottlenecks are in the process of being resolved, so a lot more oil is going to come onto the market by the end of the year. We expect the U.S. (crude oil output) to be up to 13 million barrels a day. And at least we’re looking right now at fairly weak demand,” he told CNBC’s Hadley Gamble in Abu Dhabi Tuesday.

“We’re in one of the weakest periods since 2008 and we think demand growth this year is under a million barrels per day. So you have that factor at the same time as you have more oil coming to the market. So expect…



Source cnbc.com

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