Oil Market Downturn: Where Exactly Are We Now?

Every industry has a market cycle in which the industry goes through periods of growth and decline. The oil industry is no exception; it is a cyclical industry by nature. Its history is full of booms and busts, periods of exponential growth as well as periods of unexpected downturns such as the current one.

In times of booms and busts that the oil industry experiences, a very crucial question that must be answered in order to be able to plan for the next step correctly is, "Where exactly in the oil market cycle are you at any point in time?" Whether you are an oil and gas company's CEO or a normal employee, a trader or an investor, a crude oil producer or a consumer, an oil and gas young professional or a university student, knowing the right answer to that question is very vital.

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