OIL Commodity Outlook 2016

Crude oil prices closed higher at the close of trade Friday on Wednesday (01/01) the year-end 2015 after the release of data showing the decline in the number of weeklyoil refinery, but still recorded a sharp decrease in the second year after the race for the exploration of crude oil by the manufacturer of the Middle East and the US shale oilpengebor that creates global satiety is unprecedented which may take place until2016.

Crude oil refineries in the u.s. are reported down in 2 weeks, where the currentamount reached 536, according to Baker Hughes. Oil refineries in the u.s. have fallenon 946 last year, Baker Hughes said.

World oil benchmark Brent price and crude oil for U.S. West Texas Intermediate (WTI)futures in the year-end 2015, down more than 30 percent after showing helplessnessSaudi Arabia and others in the Organization of petroleum exporting countries (OPEC) to support oil prices.

Meanwhile, the US shale oil industry, shocked the world with its ability to survive.

United States also took a historic step undo 40 years of restrictions on U.S. crude oilexports to countries outside of Canada, recognizing the growth of the industry.

Price of WTI crude oil futures closed up 44 cents, or 1.2 percent, at 37.04 dollars a barrel. Down 12 percent in December and shrank 31 percent for this year, after losing46 percent in 2014.

OuThe Brent oil price rose $ 1.05, or 2.8 percent, at 37.51 dollars a barrel, rebounding from a 11-year low level of 36.10 dollars per barrel at the beginning of the session.Down 17 percent over one month and 36 percent for the year. In 2014, Brent lost 48percent.

Brent oil prices turn positive on Thursday due to fierce storms in the North Sea forcedoil firms to evacuate and shut down production platforms on Thursday amid concerns that they could be hit by a drifting barge has been damaged.