Investing.com investing.com 31 Dec, 2020 12:30 am

5 Oil Market Factors To Watch In 2021

5 Oil Market Factors To Watch In 2021
Commodities Analysis by Ellen R. Wald, Ph.D. covering: Exxon Mobil Corp, Crude Oil WTI Futures, Natural Gas Futures, United States Oil Fund, LP. Read Ellen R. Wald, Ph.D.'s latest article on Investing.com

This industry-wide decommitment from exploration is expected to lead to a dearth of new discoveries of oil reserves.For industry, however, and for those purchasing oil assets and rights, it is vital to keep an eye on new discoveries.How will new discoveries in 2021 compare to previous years?(Note, there is a theory that potential new discoveries are dwindling because there is a finite amount of oil in the ground.

Here are five factors that traders and oil market watchers should follow particularly carefully in 2021: During the presidential election season, a popular refrain among Democratic candidates was that in order to combat global climate change they would hamper the ability of the oil and gas industry to produce, transport and sell fossil fuels.Then-candidates Joe Biden and Kamala Harris both said they would support measures to curb fracking, which provides a great deal of the oil and gas produced in the U.

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