The bullish and bearish cases for oil prices

The oil price is now firmly in a bear market. But saying where it goes next is tricky, says John Stepek. There are good arguments for a big move in either direction.

Shale oil jacks in North Dakota © ROBYN BECK/AFP/Getty Images

The outlook is not a pretty one for oil producers
(Image credit: Shale oil jacks in North Dakota © ROBYN BECK/AFP/Getty Images)

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John Stepek

John Stepek is a senior reporter at Bloomberg News and a former editor of MoneyWeek magazine. He graduated from Strathclyde University with a degree in psychology in 1996 and has always been fascinated by the gap between the way the market works in theory and the way it works in practice, and by how our deep-rooted instincts work against our best interests as investors.

He started out in journalism by writing articles about the specific business challenges facing family firms. In 2003, he took a job on the finance desk of Teletext, where he spent two years covering the markets and breaking financial news.

His work has been published in Families in Business, Shares magazine, Spear's Magazine, The Sunday Times, and The Spectator among others. He has also appeared as an expert commentator on BBC Radio 4's Today programme, BBC Radio Scotland, Newsnight, Daily Politics and Bloomberg. His first book, on contrarian investing, The Sceptical Investor, was released in March 2019. You can follow John on Twitter at @john_stepek.