Why is there so much angst about oil prices increasing this year? Its unfounded though the pointers to this end are strong. For instance, there are conficts raging in the Middle East revolving around Syria and most OPEC members be located there. US fracking companies are folding up citing low oil prices. But this is buffered by the fact that Russia, venezuela, Brazil and others continue to drill and export oil in big quantities since their economies are in the doldrums. Supply will therefore remain strong for the foreseeable future until something drastic like a disaster or war happens.