Don't let it get away!
Help yourself with the Fool's FREE and easy new watchlist service today.
2014 could shape up as a transformation year for oil, with prices falling on increased supply of North American crude and overproduction within OPEC. The cartel met last week in Vienna and agreed to keep production unchanged at 30 million barrels of crude per day (b/d). This target will be challenged as sanctions on Iran are loosened, adding a potential 4 million b/d of crude to an already oversupplied market.
With fiscal troubles throughout OPEC's membership and new supply opportunities arising, the group's target of 30 million b/d will be challenged and could lead to a sharp drop in the price of Brent crude oil.
A look forward to 2014
The market stormed out to huge gains across 2013, leaving investors on the sidelines burned. However, opportunistic investors can still find huge winners. The Motley Fool's chief investment officer has just hand-picked one such opportunity in our new report: "The Motley Fool's Top Stock for 2014." To find out which stock it is and read our in-depth report, simply click here. It's free!
This segment is from Thursday's edition of "Digging for Value," in which sector analysts Joel South and Taylor Muckerman discuss energy and materials news with host Alison Southwick. The twice-weekly show can be viewed on Tuesdays and Thursdays. It can also be found on Twitter, along with our extended coverage of the energy and materials sectors @TMFEnergy.