Oil and Its Effects on Logistics

With global oil markets continuing to face upward pressure, geopolitical disruptions bring sensitivities to an all-time high. The growing global demand for oil is growing by roughly 1.6-1.8 million barrels per day. In light of Venezuela’s production crisis, production statistics indicate that OPEC may not be able to bring enough new oil into the market to make up for the losses. Logistics costs will be highly affected by the increasingly volatile situation as oil prices are predicted to reach nearly $80 per barrel by the end of 2018.

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