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2016 Global Oil Industry Outlook

Jan 2016

The global energy industry faces a transformational year in 2016 as it seeks a new equilibrium between supply and demand. Michele Della Vigna, Goldman Sachs’ co-head of European Equity Research, expects companies to scale back expensive projects, wring out costs and boost efficiency across the supply chain amid a  “lower for longer” price environment.

The position that we are likely to be in by the end of 2016 is a more balanced physical market, but a supply chain that is still highly deflationary and the full equilibrium price over time will keep shifting lower.

- Michele Della Vigna

Michele Della Vigna
Goldman Sachs European Equity Research