- Weaker economic climate and higher production have knocked back oil prices
- A mix of factors – Opec being just one – will determine whether oil rebounds next year
Energy has been a serious driver of inflation in the past two years, but a weaker economic climate and higher production have knocked back oil prices more recently. This has been a boon for those filling their cars up, helping take some of the heat out of the previous growth, but Opec leader Saudi Arabia is intent on forcing prices back up.
Still, it is a mix of factors – Opec being just one – that will determine whether oil rebounds or stays at current levels next year.