USOIL View!!Concerns around demand have put pressure on oil prices recently. Amid worries over softening economic data out of the U.S. and a wider structural shift towards cleaner energy sources, October crude futures (CLV24) - the most active contract - have slumped nearly 10% in the past month alone.
However, the current oil slump could be an opportunity to invest. For starters, the presidential debate provided hints that oil is a critical component of both candidates' energy policies. Further, research from Stanford University indicates that oil is still the most-used energy resource worldwide, and provides more than 90% of global transportation energy. And while McKinsey forecasts that oil demand will decline by up to 50% by 2050, the firm still sees demand for oil remaining strong at least through 2030.
