Preparing for a comeback in oil prices

OIL prices have dominated headlines for the better part of this year and last, with the global economy witnessing prices dropping to levels not seen since 2003.

The volatility in oil prices has been largely due to the surge in oil production from the Organization of the Petroleum Exporting Countries (Opec).

Exacerbating the situation, Opec removed production quotas at the end of 2015, leading to the glut of oil in international markets we see today. The global oil market has now seen 10 consecutive quarters of oversupply.