Is oil on the brink of ending its three-year bear run?

Is oil on the brink of ending its three-year bear run?

United Arab Emirates United States
  • Prices have peaked this year at $57.59 per barrel
  • 3 years of price falls may mean a drop in US shale production is on the cards
  • Power consolidation moves in the Middle East could signal supply interruptions

At the end of October, US crude oil inventories hurt WTI oil once again as it came in higher than expected at 0.9 million barrels, as opposed to the -2.6million barrels. This oversupply has been hurting WTI and Brent Oil since the end of June 2014.

Due mainly to US shale, there has been an abundance of oil. This has pressured prices lower. In fact, they have collapsed by more than 50% from the peaks of early 2014.

Reacting to the weaker prices, OPEC (the Organization of Petroleum Exporting Countries) and other oil producing countries such as Russia agreed to cut production until the end of March 2018. This move injected a bit of life into oil, which bounced back from its lows of $26 per barrel. Throughout 2017 it has traded between $42 per barrel and this year’s high (so far) of $57.59 per barrel.

“The reason behind the current stable mood now there is fear that a lack of supply which could push prices higher. The ever-influential Saudi Crown Prince Mohammed bin Salman has said that he backs extending OPEC production cuts past the original date of March 2018. Nor is he the only voice calling for the extension of production cuts: Russian President Vladimir Putin has also backed an extension to the end of 2018 at the very least.

“With both these dominant political figures supporting this move when OPEC meets this month, it will indeed signal a continuation in limiting the supply of crude oil.”

James Trescothick, Senior Global Strategist, easyMarkets

Adding to the mix is the latest unrest in the Middle East, which has injected even more upward momentum to oil prices. Over the weekend, a number of Saudi princes and leading businessmen were arrested by the Saudi authorities on corruption charges. This move has been seen by outsiders as the Crown Prince Mohammed bin Salman consolidating his power as he attempts to make massive constitutional changes to the country.

Tensions in the region have increased further with a statement made by top Saudi Ministers, who have said that Lebanon has declared war on the Kingdom, and further sabre rattling with Iran. These latest developments are destabilizing the region, with oil prices clearly benefitting.

“There is also another factor to be taken into consideration on why oil prices seem to be rising. In fact, oil may now be at the end of its three-year bear run. Although US shale is expected to continue to increasing healthy production, some believe that the three years of falling oil prices has meant a decrease in investment into production. This could cause further drops in supply. Along with the slow improvement in the world economy, demand for oil could increase. This will in turn not only support oil prices, but could even boost them to $65 per barrel in the long-term.”

James Trescothick, Senior Global Strategist, easyMarkets

At the end of the day, having suffered for three years, maybe it’s time for oil to have a bit of break.

For further details, visit, email or call +44 203 1500 748.


Risk warning: Forward Rate Agreements, Options and CFDs (OTC Trading) are leveraged products that carry a substantial risk of loss up to your invested capital and may not be suitable for everyone. Please ensure that you understand fully the risks involved and do not invest money you cannot afford to lose. Our group of companies through its subsidiaries is licensed by the Cyprus Securities & Exchange Commission (Easy Forex Trading Ltd- CySEC, License Number 079/07), which has been passported in the European Union through the MiFID Directive and in Australia by ASIC (Easy Markets Pty Ltd -AFS license No. 246566).

Top of the Props: Demand for UAE property hits nine-month high

Top of the Props: Demand for UAE property hits nine-month high

Dubai Italy Spain Thailand United Arab Emirates United States
  • Demand for UAE property hits nine-month high
  • Spain remains world’s most popular property destination
  • Demand for Italian property up
  • Thailand attracts more overseas buyer

Demand for property in the UAE has hit a nine-month high, according to new research from Buyers continue to flock to Europe, but investors are equally keen to buy in Dubai, reveals the portal’s latest Top of the Props report, with the federation re-entering the world’s top 10 destinations.

Spain was the world’s most popular country in March 2015 for the second month in a row, according to’s Top of the Props report. Spain’s bottoming out prices and the weak euro has prompted a surge in interest from overseas buyers keen to snap up a holiday home bargain. This is the third time in four months that Spain has been the most popular country on

The USA rebounded back from its drop in the previous month, with its share of enquiries jumping from 4.66 per cent to 7.2 per cent. That rebound was enough to see the country leapfrog into second place. The appeal of South America weakened, as Brazil slipped from second into sixth, just above France, which dropped one place into seventh.

Thailand continued its climb up the charts: after rising from eighth to seventh in February 2015, March saw its share of enquiries increase even further to 3.95 per cent, taking the country up three spots to fourth.

One of March’s highest climbers was the UAE, which rose from 15th place into 11th in February 2015, before rising up March’s ranks for a second month in a row. The UAE is now the eighth most popular destination on, its best ranking since June 2014. This is only the third time it has been inside the Top 10.

The UAE’s popularity is fuelled by Dubai, which accounted for almost all of the enquiries. The market has cooled in recent months, partly as a result of higher transfer fees introduced to cap speculative investment, but demand continues to improve on Enquiries for UAE real estate were 32 percent higher in 2014 than 2013, although they remain 45 per cent below the levels recorded during the 2008 market peak.

2015 has seen that trend continue, with enquiries up 72 per cent in real terms in Q1 2015 compared to Q4 2014. In the first three months of the year, the UAE was the 10th most popular destination on, ahead of Cyprus and Greece. Director Dan Johnson comments: “Even after the soaring price rises of recent years, Dubai property values are still below peak values, according to Cluttons. Combined with a lack of inheritance tax and the appeal of rental income, demand for property in the emirate remains strong, even following a slight market cooldown.

“The UAE currency is pegged to the dollar, which has made it more expensive for European buyers, while the rouble’s plunge has hampered Russian interest, but interest is still high on from Chinese buyers, as well as Indians, Brits, Americans, Canadians, and other investors from the Middle East and Hong Kong. In just three months of 2015, the UAE has already received more than 60 per cent of 2011’s total number of enquiries.”

Europe, though, remains the primary driver of activity on in 2015, with three out of March’s five top destinations located in the eurozone. Interest in Italian property soared in March 2015, climbing three places to account for 3.19 per cent of enquiries, while Portugal returned to the top three destinations for the fifth time in the past six months. Portugal now accounts for 1 in every 20 (5.85 per cent) enquiry on the site.

— ENDS —

Notes to Editors

About Lead Galaxy and

Founded in 1999, is the leading independent website for international property, with more than 800,000 listings in over 100 countries around the world, marketed on behalf of agents, developers and private owners. is one of more than a dozen international property sites operated under the Lead Galaxy brand. Lead Galaxy provides online marketing solutions to thousands of property companies worldwide, focusing on portal listings, email marketing, qualified leads, paid search and social media advertising.

The business is headquartered at 24 Jack’s Place, Corbet Place, Shoreditch, London, E1 6NN.


Do you need comment or statistics for an international real estate article? Our experienced editorial team and management are happy to collate data, provide example properties, or offer insightful comment to support your publication.

Please contact Ivan Radford on or +44 (0)207 952 7221


Sign up to our Daily International Property Newsletter:

– Daily updates on property market news headlines

– Quirky stories from around the world of property

– Hot properties being launched internationally

– Useful guides, surveys, research and trends

– Gossip, lists and other property chit chat

Sign up here:


Feature property listings in your publication!

Our technical team has developed a great new solution for content publishers that allows the addition of high impact advertising units, which can be configured to show property listings, relevant to a type of property, country, region or a specific location.

There are 2 types of implementation:

  • Standard Ad Units: These show in 120,600, 160×600, 300×150, 300×250, 300×500, 300×750 and 728×90 formats, with a varying number of listings showing in each version.
  • Dynamic Portfolio: This is a completely configurable panel, where you can choose the number of columns and rows, plus the size of the listings and dedicate a section of a page, or even a whole page to a set of properties.

Please contact Ian Spencer on or +44 (0)207 952 7224