WASHINGTON and NEW YORK and LONDON, Aug. 26, 2015 /PRNewswire/ -- On Monday, August 24, 2015, West Texas Intermediate crude oil closed at $38 per barrel, the lowest price since the financial crisis in 2009. Many factors contribute to the drop in oil prices, but one of the biggest concerns is the weakening Chinese economy. As China's economy shifts, the demand for construction and heavy industry will decrease, which will also lower the demand for oil.
To provide expert analysis and comprehensive coverage of these market shifts, MarketResearch.com is pleased to offer users access to multiple reports that analyze the impact and implications of low crude oil prices on different industries and regions.
To learn more, check out our recent reports on crude oil:
Other contributing factors include oversupply and the Iran nuclear deal. The oil market is preparing for an influx of millions of barrels of Iranian oil after the nuclear deal stuck between the global powers and Tehran in June, which promises to lift sanctions on the country's crude oil. Once Iran rejoins the world economic stage, we should expect to see 400,000 to 600,000 barrels enter the market per day.
With additional crude oil suppliers entering the market, the fight for market share and market position will intensify. Cheaper oil may bring joy to consumers and businesses, but it also tests the limits of oil storage facilities, most of which are already close to being full.
These crude oil reports are also available on www.profound.com, where subscribers are able to purchase the individual sections, chapters, tables, or charts of a report they need without having to pay for the pieces they don't.
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