The Depreciation of the Petroleum Prices
Petroleum which has the most important impact to global markets in energy industry, has lost its value about seventy percent according to price variable from 2014 to 2016, also nowadays it is to hard to forecast the future trend of the oil prices. In the year of 2014 the brent petroleum's price was 99$, but in the year of 2015 brent petroleum's price decreased to 53$. On the other hand, currently, brent petroleum is pricing at approximately 29$ and 30$ range, because of that reason petroleum producers and suppliers are seriously anxious.
From the supply and demand dimension, the consumption amount in 2015 in America wasn't at expected level and the demand in China was decreasing, therefore the overall demand to petroleum is falling. Also, China's currency Yuan was underpressure in this time period and the slowing economy combined with weak currency, so China's oil demand fell and global oil market is in red alarm now. As a result, the economic condition of China effected worse to currencies and commodities in global markets, this situation caused to depreciate the global trade volume. Also, with the increasing demand to renewables caused to decrease in other fossil fuels energy resources.
Because of the mentioned reasons, petroleum prices are decreasing and there is a question on the people's mind "Where do the petroleum prices go?". Many of the research agencies forecast that the petroleum prices can decrease to 20$ or 10$ range, on the other hand, some of them forecast that the petroleum prices can rebound and reach again 40$ and 50$ range.
As a result, in energy sector the petroleum prices' situation is not in fine conditions and especially petroleum driven countries' situations are much more worse than the other countries. In my opinion, OPEC and China have important key role to solve this complicated situation.